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Guideline Value

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Guideline Value for M.G.R. Nagar 3rd Street (Canal)

₹1700/sq.ft.

The guideline value for M.g.r. Nagar 3rd 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 3rd Street (canal)

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M.G.R. Nagar 3rd Street (Canal) guideline value

The current guideline value of M.G.R. Nagar 3rd Street (Canal) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

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

The guideline value for M.G.R. Nagar 3rd Street (Canal) has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 250 per sq.ft. This figure saw a significant increase to Rs 1,500 per sq.ft in 2012, marking a rise of 500%. However, the value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, which then increased to Rs 1,700 per sq.ft in 2024, reflecting a 13% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 580%.

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 for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of M.G.R. Nagar 3rd Street (Canal) below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the 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 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 3rd Street (Canal)?

The Sub Registrar Office that covers M.G.R. Nagar 3rd 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 the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When a property is sold, the guideline value helps in assessing the official value of the property, which is essential for legal and taxation purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar 3rd 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 changed from Rs 250 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 580% over the years.

What was the guideline value in 2023?

In 2023, the guideline value for M.G.R. Nagar 3rd Street (Canal) was Rs 1,500 per sq.ft.

What is the registration office for M.G.R. Nagar 3rd Street (Canal)?

The registration office for M.G.R. Nagar 3rd 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.

How is 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 with a guideline value of Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.