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

M.G.R. Nagar Thiruvalluvar Street guideline value

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

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

The guideline value for M.G.R. Nagar Thiruvalluvar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then rose again to the current value of Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Peerklankaranai

In Peerklankaranai, there are a total of 322 streets under the Tambaram Joint 1 SRO that carry 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 Thiruvalluvar Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in M.G.R. Nagar Thiruvalluvar 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 fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers M.G.R. Nagar Thiruvalluvar 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 details.

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

The guideline value is a crucial factor during the registration process when buying or selling properties in Peerklankaranai. It serves as the benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the prevailing rates set by the government.

When a property is sold, the guideline value helps in establishing a fair price for the transaction, which is essential for both buyers and sellers. This ensures that the registration process is transparent and in accordance with the current regulations.

Frequently asked questions

What is the current guideline value for M.G.R. Nagar Thiruvalluvar Street?

The current guideline value for M.G.R. Nagar Thiruvalluvar 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 increased 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 Thiruvalluvar Street?

The land classification for M.G.R. Nagar Thiruvalluvar Street is Residential Class II Type - II.

Where can I find the Sub Registrar Office for M.G.R. Nagar Thiruvalluvar Street?

The Sub Registrar Office for M.G.R. Nagar Thiruvalluvar 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 M.G.R. Nagar Thiruvalluvar Street?

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