Guideline Value for M.G.R. Nagar 3rd Street

M.G.R. Nagar 3rd Street guideline value

The current guideline value of M.G.R. Nagar 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of M.G.R. Nagar 3rd Street has changed

Over the years, the guideline value of M.G.R. Nagar 3rd Street has seen several revisions. The value was Rs 600 per sq.ft in 2007, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it then dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value increased significantly to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,300 per sq.ft in 2024, reflecting an 8% rise.

Notably, the register has no figures for M.G.R. Nagar 3rd Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for M.G.R. Nagar 3rd Street is below this median.

• M.G.R. Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for duty and registration would be Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar 3rd Street?

The M.G.R. Nagar 3rd Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

When buying or selling property in Tondaiarpet, the guideline value is a crucial factor in determining the stamp duty and registration fees. This value serves as a benchmark for the minimum price at which properties can be registered, ensuring compliance with the regulations set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value, as this will directly affect the costs involved in the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 3rd Street?

The current guideline value of M.G.R. Nagar 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What are the registration fees for property in M.G.R. Nagar 3rd Street?

The registration fee for property in M.G.R. Nagar 3rd Street is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the registration fee would be Rs 26,000.

Which Sub Registrar Office covers M.G.R. Nagar 3rd Street?

The Royapuram Sub Registrar Office covers M.G.R. Nagar 3rd Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, while the guideline value for M.G.R. Nagar 3rd Street is below this median at Rs 1,300 per sq.ft.