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Guideline Value

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Guideline Value for M.G.R. Nagar 2nd Street (Canal)

₹1700/sq.ft.

The guideline value for M.g.r. Nagar 2nd Street (canal) in Neelankarai village (Neelankarai SRO, Chennai zone) is Rs 1700 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 13% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Neelankarai

Village

Neelankarai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1700 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹250 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on M.g.r. Nagar 2nd Street (canal)

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M.G.R. Nagar 2nd Street (Canal) guideline value

The current guideline value for M.G.R. Nagar 2nd Street (Canal) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village and falls under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of M.G.R. Nagar 2nd Street (Canal) has changed

In the 2007 revision, the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, representing a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,700 per sq.ft in 2024, indicating a 13% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 580%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning M.G.R. Nagar 2nd Street (Canal) below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.G.R. Nagar 2nd Street (Canal)?

The Sub Registrar Office that covers M.G.R. Nagar 2nd Street (Canal) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Neelankarai, as it determines the minimum value at which properties can be registered. This value is used to calculate stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to understand that the guideline value may differ from the actual sale price. However, the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value for M.G.R. Nagar 2nd Street (Canal) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 250 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 580% over the years.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, which means that M.G.R. Nagar 2nd Street (Canal) is below this median at Rs 1,700 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for M.G.R. Nagar 2nd Street (Canal)?

The Neelankarai Sub Registrar Office handles property registrations for M.G.R. Nagar 2nd Street (Canal), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.