Guideline Value for M.G.R. Nagar Barathiyar Street

M.G.R. Nagar Barathiyar Street guideline value

The current guideline value of M.G.R. Nagar Barathiyar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

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

Over the years, the guideline value of M.G.R. Nagar Barathiyar Street has undergone several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and finally, it reached Rs 1,650 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of M.G.R. Nagar Barathiyar Street.

• M.G.R. Nagar Kalaivanar Street: Rs 1,650 per sq.ft (2024)
• M.G.R Nagar Sarangapani Street: Rs 1,650 per sq.ft (2024)
• M.G.R. Nagar Valluvan Street: Rs 2,750 per sq.ft (2024)
• M.G.R. Thangalkarai Street: Rs 1,650 per sq.ft (2024)
• M.M.D.A. Nagar Bharathi Street: Rs 1,650 per sq.ft (2024)
• Mohanarangan Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers M.G.R. Nagar Barathiyar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Barathiyar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for M.G.R. Nagar Barathiyar Street?

The land classification for M.G.R. Nagar Barathiyar Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for M.G.R. Nagar Barathiyar Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.