Guideline Value for M.G.R. Nagar 9th Main Road

M.G.R. Nagar 9th Main Road guideline value

The current guideline value of M.G.R. Nagar 9th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road 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 9th Main Road has changed

The guideline value for M.G.R. Nagar 9th Main Road has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 2,345 per sq.ft in the 2017 revision. This marks a change of +56% over the decade. The most recent revision in 2024 saw a significant increase to Rs 3,850 per sq.ft, reflecting a +64% change from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +157%. It is important to note that the register has no figures for the years 2002, 2003, 2012, and 2023 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. The median guideline value for these streets is Rs 4,400 per sq.ft, placing M.G.R. Nagar 9th Main Road's 2024 figure below this median.

• M.G.R. Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 8th Main Road: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar Extn: Rs 3,850 per sq.ft (2024)
• M.G.R. Nagar Extn, A.G.S. Colony 6th Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 9th 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 would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that 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 9th Main Road?

The M.G.R. Nagar 9th 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 critical factor in the registration process of property transactions 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 both parties to understand the fair valuation of the property. It is essential for buyers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar 9th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of +157%.

What was the guideline value in 2017?

The guideline value for M.G.R. Nagar 9th Main Road in 2017 was Rs 2,345 per sq.ft.

Are there any years with no guideline value figures for this street?

Yes, the register has no figures for M.G.R. Nagar 9th Main Road for the years 2002, 2003, 2012, and 2023.

Where can I find the Velacheri Sub Registrar Office?

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