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

M.G.R. Nagar Chozhan Street guideline value

The current guideline value of M.G.R. Nagar Chozhan Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village under the Kunrathur SRO, classified as Residential Special Type - II.

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

Over the years, the guideline value of M.G.R. Nagar Chozhan Street has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,400 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,550 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 11%.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO with 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 current guideline value of M.G.R. Nagar Chozhan Street.

• M.G.R. Nagar Cheran 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 Chozhan 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, bringing the total cost for these fees to Rs 1,39,500. Please note that the 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 more details.

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

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

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

The guideline value is a crucial factor during property registration in Thirunageswaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value helps establish the minimum value for taxation purposes. It is essential to be aware of the current guideline value to accurately calculate the costs involved in the transaction.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Chozhan 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 2012 to Rs 938 per sq.ft in 2017, then back to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

What is the land classification of M.G.R. Nagar Chozhan Street?

M.G.R. Nagar Chozhan Street is classified as Residential Special Type - II under the Kunrathur SRO.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,08,500.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No. 59, Road Street, Kundrathur, Chennai -600 069. You can also find your SRO through the provided link.