Guideline Value for M.G.R. Nagar 6th Main Road

M.G.R. Nagar 6th Main Road guideline value

The current guideline value of M.G.R. Nagar 6th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls 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 6th Main Road has changed

In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. This represents a significant increase of 64% to the current value of Rs 3,850 per sq.ft in the 2024 revision. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From the 2017 revision to the 2024 revision, the guideline value increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft. This change reflects the latest valuation, which is now in effect.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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 6th Main Road's guideline value is below this median.

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

Stamp duty and registration fee for property in M.G.R. Nagar 6th Main Road

For a 1,000 sq.ft plot at the current rate, 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 details.

Which Sub Registrar Office covers M.G.R. Nagar 6th Main Road?

The Sub Registrar Office that covers M.G.R. Nagar 6th Main Road is 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 the registration process when buying or selling property in Velachery. It helps determine the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. It ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 6th Main Road?

The current guideline value of M.G.R. Nagar 6th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

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 change of 64%.

What is the land classification for M.G.R. Nagar 6th Main Road?

The land classification for M.G.R. Nagar 6th Main Road is Residential Class II Type - III.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, while M.G.R. Nagar 6th Main Road's value is below this median.

Where is the Sub Registrar Office located for M.G.R. Nagar 6th Main Road?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.