Guideline Value for M.G.R. Nagar 5th Main Road

M.G.R. Nagar 5th Main Road guideline value

The current guideline value of M.G.R. Nagar 5th 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. The land classification for this area is Residential Class II Type - III.

How the guideline value of M.G.R. Nagar 5th Main Road has changed

The guideline value for M.G.R. Nagar 5th Main Road has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. This represents a 64% increase to the current value of Rs 3,850 per sq.ft as per the 2024 revision. The register has no figure for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. M.G.R. Nagar 5th Main Road's guideline value is below this median.

• M.G.R. Nagar 5th 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 6th 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 Main Road 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 6th Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 5th 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 amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R. Nagar 5th Main Road?

The M.G.R. Nagar 5th 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 more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It determines the minimum value at which a property must be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating taxes and fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 5th Main Road?

The current guideline value of M.G.R. Nagar 5th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, marking a 64% increase. The register has no figure for the years 2023, 2012, 2007, 2003, and 2002 for this street.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. This is based on the guideline value of Rs 3,850 per sq.ft.

Where can I find the Sub Registrar Office for M.G.R. Nagar 5th Main Road?

The Velacheri Sub Registrar Office covers M.G.R. Nagar 5th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for M.G.R. Nagar 5th Main Road?

The land classification for M.G.R. Nagar 5th Main Road is Residential Class II Type - III, indicating its designation for residential use.