Guideline Value for M.G.R. Nagar 2nd Cross Street

M.G.R. Nagar 2nd Cross Street guideline value

The current guideline value for M.G.R. Nagar 2nd Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of M.G.R. Nagar 2nd Cross Street has changed

In the 2012 revision, the guideline value for M.G.R. Nagar 2nd Cross Street was Rs 2,200 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,400 per sq.ft, marking a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Thirumullaivoyal

Thirumullaivoyal has a total of 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is the same as the current guideline value for M.G.R. Nagar 2nd Cross Street.

• M.G.R. Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 4th Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 5th Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 6th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. 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 2nd Cross Street?

The M.G.R. Nagar 2nd Cross Street falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value is an important factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value.

When buying or selling property, the guideline value helps determine the minimum sale price that can be considered for registration. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value for M.G.R. Nagar 2nd Cross Street?

The current guideline value for M.G.R. Nagar 2nd Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, reflecting a 9% increase. The value remained unchanged at Rs 2,200 per sq.ft from 2012 to 2023.

What is the land classification for M.G.R. Nagar 2nd Cross Street?

M.G.R. Nagar 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for M.G.R. Nagar 2nd Cross Street?

The Sub Registrar Office for M.G.R. Nagar 2nd Cross Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.