Guideline Value for M.G.R. Nagar 6th Cross Street

M.G.R. Nagar 6th Cross Street guideline value

The current guideline value of M.G.R. Nagar 6th Cross Street 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 6th Cross Street has changed

The guideline value for M.G.R. Nagar 6th Cross Street has seen significant changes over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft. With the 2024 revision, the value increased to Rs 3,850 per sq.ft, marking a change of +64% from the previous revision.

There are no figures available for the revisions in 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. The guideline value of M.G.R. Nagar 6th Cross Street is below this median.

• M.G.R. Nagar 6th Main Road: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 5th Main Road: 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 7th Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers M.G.R. Nagar 6th Cross Street?

The M.G.R. Nagar 6th Cross Street falls under the jurisdiction of 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 details.

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

The guideline value is a crucial factor during property registration in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware of the guideline value to ensure compliance with local regulations and avoid any legal complications.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 6th Cross Street?

The current guideline value of M.G.R. Nagar 6th Cross Street 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 in 2024, which is a change of +64%.

Are there any revisions without figures for M.G.R. Nagar 6th Cross Street?

Yes, there are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for M.G.R. Nagar 6th Cross Street.

What are the stamp duty and registration fees for a property in M.G.R. Nagar 6th Cross Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,46,500.

Which office handles the registration for M.G.R. Nagar 6th Cross Street?

The Velacheri Sub Registrar Office handles the registration for M.G.R. Nagar 6th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.