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

M.G.R. Nagar Kattabomman Street guideline value

The current guideline value of M.G.R. Nagar Kattabomman Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - II.

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

The guideline value for M.G.R. Nagar Kattabomman Street has undergone several revisions over the years. The earliest available revision is from 2012, which set the guideline value at Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. The subsequent revision in 2023 increased the value to Rs 800 per sq.ft, and the most recent revision in 2024 raised it to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. M.G.R. Nagar Kattabomman Street's 2024 figure is below this median.

• M.G.R. Nagar ilango Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Bharathiyar Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Thiruvalluvar Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Valmeeki Street: Rs 880 per sq.ft (2024)
• M.G.R 2st cross street: Rs 880 per sq.ft (2024)
• M.G.R. Street: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers M.G.R. Nagar Kattabomman 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 Peerklankaranai

The guideline value is a critical factor when registering property transactions in Peerklankaranai. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements during the transaction process.

When a property is bought or sold, the guideline value helps in determining the official value of the property for registration purposes. This ensures transparency and compliance with local regulations, making it essential for all property transactions in the area.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Kattabomman Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

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

M.G.R. Nagar Kattabomman Street is classified as Residential Class II Type - II.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in M.G.R. Nagar Kattabomman Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 8,80,000 would incur a stamp duty of Rs 61,600 at 7%.