Guideline Value for M.G.R. Nagar 9th Street

M.G.R. Nagar 9th Street guideline value

The current guideline value for M.G.R. Nagar 9th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of M.G.R. Nagar 9th Street has changed

The guideline value for M.G.R. Nagar 9th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, reflecting a 100% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 804 per sq.ft. The 2017 revision then saw a significant increase of 49%, bringing the value to Rs 1,200 per sq.ft in 2023.

The most recent revision in 2024 raised the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

Tondaiarpet village has a total of 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that M.G.R. Nagar 9th Street's 2024 figure is below this median.

• M.G.R. Nagar 8th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 9th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R. Nagar 9th Street?

The M.G.R. Nagar 9th Street falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Tondaiarpet, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 9th Street?

The current guideline value of M.G.R. Nagar 9th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 117% over the years.

What are the stamp duty rates for properties in M.G.R. Nagar 9th Street?

The stamp duty rate for properties in M.G.R. Nagar 9th Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in M.G.R. Nagar 9th Street?

The Royapuram Sub Registrar Office handles property registrations for M.G.R. Nagar 9th Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, while M.G.R. Nagar 9th Street's 2024 figure is below this median.