Guideline Value for M.G.R. Nagar

M.G.R. Nagar guideline value

The current guideline value of M.G.R. Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class III Type - I.

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

The guideline value for M.G.R. Nagar has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017 before rising again to Rs 700 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2007 to 2012 was a remarkable 600%. Overall, from 2007 to 2024, the guideline value has increased by 600%, indicating a significant change over the years.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO with a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median of Rs 800 per sq.ft. M.G.R. Nagar's current guideline value is below this median.

• Midhuan Garden: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 1,000 per sq.ft (2024)
• Mishin School Street: Rs 1,500 per sq.ft (2024)
• Mettu Kalani: Rs 700 per sq.ft (2024)
• M.P.Nagar: Rs 700 per sq.ft (2024)
• Mugamadhiyar sandhu: Rs 1,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office covering M.G.R. Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor when buying or selling property in Uthiramerur, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved. This process helps maintain transparency and fairness in real estate transactions within the region.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar is Rs 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 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for property in M.G.R. Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 7,00,000, the total fees would be Rs 63,000.

Where is the Sub Registrar Office for M.G.R. Nagar located?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that all parties are aware of their financial obligations. It helps maintain transparency in the buying and selling process.