Guideline Value for M.G.R. Nagar 12th Main Road

M.G.R. Nagar 12th Main Road guideline value

The current guideline value of M.G.R. Nagar 12th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of M.G.R. Nagar 12th Main Road has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 3,850 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not provide figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making the 2024 figure for M.G.R. Nagar 12th Main Road below that median.

• M.G.R. Nagar 11th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 12th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 11th Main Road: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 13th Main Road: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 13th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 12th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R. Nagar 12th Main Road?

The M.G.R. Nagar 12th Main Road is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When you register a property, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 12th Main Road?

The current guideline value of M.G.R. Nagar 12th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations. It was Rs 3,500 per sq.ft in 2012, decreased to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification for M.G.R. Nagar 12th Main Road?

The land classification for M.G.R. Nagar 12th Main Road is Residential Class II Type - III.

Where can I find the registration office for M.G.R. Nagar 12th Main Road?

The Velacheri Sub Registrar Office covers M.G.R. Nagar 12th Main Road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in M.G.R. Nagar 12th Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500.