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

M.G.R. Nagar ilango Street guideline value

The current guideline value of M.G.R. Nagar ilango 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. The land classification for this area is Residential Class II Type - II.

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

Over the years, the guideline value of M.G.R. Nagar ilango Street has seen several revisions. The oldest recorded revision is from 2012, where the guideline value was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. The value then increased significantly to Rs 800 per sq.ft in 2023, and currently stands at Rs 880 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 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 ilango Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in M.G.R. Nagar ilango 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, making a total of Rs 79,200. It is important to note that 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 ilango Street?

The Sub Registrar Office that covers M.G.R. Nagar ilango Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 an essential factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar ilango 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 ilango Street?

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

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for M.G.R. Nagar ilango Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.