Guideline Value for M.G.R. Nagar Pillaiyar Koil Street

M.G.R. Nagar Pillaiyar Koil Street guideline value

The current guideline value of M.G.R. Nagar Pillaiyar Koil 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 with a land classification of Residential Special Type - II.

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

The guideline value for M.G.R. Nagar Pillaiyar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 938 per sq.ft. The value then increased to Rs 1,400 per sq.ft in 2012, followed by a significant rise to Rs 1,400 per sq.ft in 2023, before reaching the current value of Rs 1,550 per sq.ft in 2024, marking an 11% increase.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 11%. The overall change from the 2012 revision to the 2024 revision is an increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirunageswaram

In Thirunageswaram, there are a total of 105 streets under the Kunrathur SRO that carry 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 figure for M.G.R. Nagar Pillaiyar Koil Street.

• M.G.R. Nagar Rajiv 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 Indhra Gandhi 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 Chozhan Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Cheran Street: Rs 1,550 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, making a total of 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.

For more details, you can use the stamp duty and registration fee calculator.

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

The M.G.R. Nagar Pillaiyar Koil 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 in the registration of property transactions in Thirunageswaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Pillaiyar Koil 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 2023 to Rs 1,550 per sq.ft in 2024, an increase of 11%. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

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

M.G.R. Nagar Pillaiyar Koil Street is classified as Residential Special Type - II. This classification indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot valued at Rs 15,50,000, the total fees would amount to Rs 1,39,500.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area, including M.G.R. Nagar Pillaiyar Koil Street.