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

M.G.R. Nagar Cheran Street guideline value

The current guideline value of M.G.R. Nagar Cheran Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

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

The guideline value for M.G.R. Nagar Cheran Street has seen several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and finally, it rose to Rs 1,550 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has increased by 11%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,550 per sq.ft, which is equal to the guideline value of M.G.R. Nagar Cheran Street.

• M.G.R. Nagar Chozhan Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Elumalai Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Indhra Gandhi Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar pallavar Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Pillaiyar Koil Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Rajiv Gandhi Street: Rs 1,550 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, making the total cost for these fees Rs 1,39,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The M.G.R. Nagar Cheran Street falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Thirunageswaram. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is aligned with the established values set by the Registration Department.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Cheran Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,550 per sq.ft in 2024, an increase of 11%. It was Rs 938 per sq.ft in 2017, showing a 49% increase from that year to 2023.

Where can I find the registration office for M.G.R. Nagar Cheran Street?

The registration office for M.G.R. Nagar Cheran Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty rates for properties in this area?

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

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

The land classification for M.G.R. Nagar Cheran Street is Residential Special Type - II, indicating its designated use for residential purposes.