Guideline Value for M.G.R. Nagar 6th Street (Ward 30)

M.G.R. Nagar 6th Street (Ward 30) guideline value

The current guideline value of M.G.R. Nagar 6th Street (Ward 30) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of M.G.R. Nagar 6th Street (Ward 30) has changed

The guideline value for M.G.R. Nagar 6th Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

From 2017 to 2023, the guideline value rose significantly by 49%. Overall, from 2017 to 2024, the increase is 62%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. M.G.R. Nagar 6th Street's 2024 guideline value is below this median.

• M.G.R.Nagar 6th st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R.Nagar 7th Cross Street: Rs 1,300 per sq.ft (2024)
• M.G.R.Nagar 6th Cross st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street (Ward 30): Rs 1,300 per sq.ft (2024)
• M.G.R.Nagar 5th st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 8th Street (Ward 30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 6th Street (Ward 30)

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 charges to Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers M.G.R. Nagar 6th Street (Ward 30)?

The M.G.R. Nagar 6th Street (Ward 30) falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar 6th Street (Ward 30) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62% over this period.

What is the stamp duty rate in M.G.R. Nagar 6th Street?

The stamp duty rate applicable in M.G.R. Nagar 6th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is crucial for buyers and sellers to consider this value for accurate financial planning.