Guideline Value for M.G.R. Nagar 4th Main Road

M.G.R. Nagar 4th Main Road guideline value

The current guideline value of M.G.R. Nagar 4th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

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

The guideline value for M.G.R. Nagar 4th Main Road has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft. With the 2024 revision, this value increased to Rs 3,850 per sq.ft, marking a rise of 64% from the previous figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The only revisions available are from 2017 and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing the guideline value of M.G.R. Nagar 4th Main Road below this median.

• M.G.R. Nagar 4th Main Road 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 5th Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 4th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.G.R. Nagar 4th Main Road?

The M.G.R. Nagar 4th Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering properties in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs to consider during the transaction process. This ensures that both buyers and sellers are aware of the financial implications of their property dealings.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar 4th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, which is a rise of 64%.

Are there any years with no recorded guideline value for this street?

Yes, there are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for M.G.R. Nagar 4th Main Road.

What are the stamp duty and registration fees for property in M.G.R. Nagar 4th Main Road?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft property at the current guideline value, the total fees would amount to Rs 3,46,500.

Which office handles the registration for M.G.R. Nagar 4th Main Road?

The Velacheri Sub Registrar Office handles the registration for M.G.R. Nagar 4th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.