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

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

The current guideline value of M.G.R. Nagar Rajiv 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 Rajiv Gandhi Street has changed

The guideline value for M.G.R. Nagar Rajiv Gandhi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,400 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 1,550 per sq.ft, marking an 11% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 11%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,550 per sq.ft. The guideline value of M.G.R. Nagar Rajiv Gandhi Street matches this median.

• M.G.R. Nagar Pillaiyar Koil 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 Rajiv 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 fees to Rs 1,39,500. Please 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 information.

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

The M.G.R. Nagar Rajiv Gandhi Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thirunageswaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar Rajiv 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 changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

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

M.G.R. Nagar Rajiv Gandhi Street is classified as Residential Special Type - II under the guideline value register.

What are the registration fees for properties in M.G.R. Nagar Rajiv Gandhi Street?

The registration fees for properties in M.G.R. Nagar Rajiv Gandhi Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for M.G.R. Nagar Rajiv Gandhi Street?

The Kunrathur Sub Registrar Office handles registrations for M.G.R. Nagar Rajiv Gandhi Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.