Guideline Value for M.G.R. Nagar Link Streets

M.G.R. Nagar Link Streets guideline value

The current guideline value for M.G.R. Nagar Link Streets is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO, classified as Residential Class V Type - III.

How the guideline value of M.G.R. Nagar Link Streets has changed

Since the 2012 revision, the guideline value for M.G.R. Nagar Link Streets has seen several changes. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the current 2024 revision has further increased it to Rs 1,700 per sq.ft, marking a 13% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 13%.

In summary, the revisions are as follows: the 2017 revision was Rs 1,005 per sq.ft, the 2023 revision was Rs 1,500 per sq.ft, and the current 2024 revision is Rs 1,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are a total of 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for M.G.R. Nagar Link Streets is below this median.

• M.G.R. Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 5th Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil 6th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar Link Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these charges Rs 1,53,000. 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 detailed calculations.

Which Sub Registrar Office covers M.G.R. Nagar Link Streets?

The M.G.R. Nagar Link Streets fall under the jurisdiction of the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kottivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value serves as a reference point for both parties involved in a transaction.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar Link Streets?

The current guideline value of M.G.R. Nagar Link Streets is Rs 1,700 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 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and currently to Rs 1,700 per sq.ft in 2024.

What is the land classification of M.G.R. Nagar Link Streets?

M.G.R. Nagar Link Streets is classified as Residential Class V Type - III, which indicates its zoning for residential development.

How is stamp duty calculated for properties in M.G.R. Nagar Link Streets?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can visit this office for any registration-related queries.