Guideline Value for M.G.R. Nagar 4th Street

M.G.R. Nagar 4th Street guideline value

The current guideline value of M.G.R. Nagar 4th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, and it is classified as Residential Class II Type - I.

How the guideline value of M.G.R. Nagar 4th Street has changed

The guideline value for M.G.R. Nagar 4th Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it saw a significant drop to Rs 804 per sq.ft in 2017. The 2023 revision set the value at Rs 1,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,300 per sq.ft.

Notably, the changes between these revisions include an increase of 100% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. From 2023 to 2024, there was an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry 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. M.G.R. Nagar 4th Street's 2024 guideline value is below this median.

• M.G.R. Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 3rd 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 2nd Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 8th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 4th 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 at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 4th Street?

The Sub Registrar Office that covers M.G.R. Nagar 4th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value serves as a benchmark for property value assessment during registration at the Royapuram SRO.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 4th Street?

The current guideline value of M.G.R. Nagar 4th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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, with various increases and decreases in between.

What is the land classification for M.G.R. Nagar 4th Street?

M.G.R. Nagar 4th Street is classified as Residential Class II Type - I.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in M.G.R. Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.