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

M.G.R. Nagar Kalaivanar Street guideline value

The current guideline value of M.G.R. Nagar Kalaivanar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

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

The guideline value for M.G.R. Nagar Kalaivanar Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the 2023 revision of Rs 1,500 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 1,005 per sq.ft, reflecting a significant increase of 49% from the previous 2012 revision, which was Rs 1,500 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The fluctuations indicate a complex history of values, with a notable decrease of 33% from 2012 to 2017 before the recent increases.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, making M.G.R. Nagar Kalaivanar Street's current value equal to this median.

• M.G.R. Nagar Barathiyar 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 Kalaivanar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while 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 our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering M.G.R. Nagar Kalaivanar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the accurate value of the property being transferred.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Kalaivanar 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 2023 to Rs 1,650 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, reflecting significant fluctuations over the years.

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

Other streets in Chitlapakkam with a guideline value of Rs 1,650 per sq.ft include M.G.R. Nagar Barathiyar Street, M.G.R Nagar Sarangapani Street, M.G.R. Thangalkarai Street, and M.M.D.A. Nagar Bharathi Street.

What is the registration office for M.G.R. Nagar Kalaivanar Street?

The registration office for M.G.R. Nagar Kalaivanar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty for properties in Chitlapakkam is calculated based on the guideline value or the sale price, whichever is higher. 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%.