Guideline Value for M.G.R. Nagar Indhra Gandhi Street

M.G.R. Nagar Indhra Gandhi Street guideline value

The current guideline value of M.G.R. Nagar Indhra Gandhi 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, classified as Residential Special Type - II.

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

In 2012, the guideline value for M.G.R. Nagar Indhra Gandhi Street was set at Rs 1,400 per sq.ft. This figure 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 rose to Rs 1,550 per sq.ft in 2024, marking an increase of 11% from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Between the revisions, the most notable change was from 2017 to 2023, where the guideline value increased by 49%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

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 guideline value for these streets is Rs 1,550 per sq.ft, which is equal to the current guideline value of M.G.R. Nagar Indhra Gandhi Street.

• M.G.R. Nagar Elumalai Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Chozhan Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Cheran 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 Indhra Gandhi 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 to Rs 1,39,500. 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 detailed calculations.

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

The M.G.R. Nagar Indhra Gandhi 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirunageswaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should always refer to the latest guideline value to ensure compliance with registration requirements.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Indhra Gandhi 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 seen several revisions, increasing from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then rising back to Rs 1,400 in 2023, and finally reaching Rs 1,550 in 2024.

What are the other streets in Thirunageswaram with the same guideline value?

Other streets in Thirunageswaram with the same guideline value of Rs 1,550 per sq.ft include M.G.R. Nagar Elumalai Street, M.G.R. Nagar Chozhan Street, M.G.R. Nagar Cheran Street, M.G.R. Nagar pallavar Street, M.G.R. Nagar Pillaiyar Koil Street, and M.G.R. Nagar Rajiv Gandhi Street.

What is the registration fee for property in M.G.R. Nagar Indhra Gandhi Street?

The registration fee for property in M.G.R. Nagar Indhra Gandhi Street is 2% of the guideline value. For example, for a plot valued at Rs 15,50,000, the registration fee would be Rs 31,000.

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 find more information through the provided link.