Guideline Value for M.G.R. Nagar

M.G.R. Nagar guideline value

The current guideline value of M.G.R. Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls within 5. Athipattu village, under the Konnur 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. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 raised it further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. This illustrates a significant upward trend in the guideline value over these years.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft, with a median value of Rs 2,200 per sq.ft. M.G.R. Nagar's 2024 figure is below this median.

• Mettu Street: Rs 1,600 per sq.ft (2024)
• Meenakshi Avenue: Rs 4,400 per sq.ft (2024)
• Masuthi Street (Chelliamman): Rs 2,200 per sq.ft (2024)
• Mariamman Street: Rs 1,600 per sq.ft (2024)
• Mariammankoil Street (Kuppam): Rs 1,600 per sq.ft (2024)
• Mullai Street: Rs 2,200 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 rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers M.G.R. Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value plays a crucial role in the registration process when buying or selling property in 5. Athipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction.

When a property is registered, the guideline value is considered alongside the sale price to ensure that the appropriate fees are calculated. This ensures compliance with legal requirements and helps in the accurate assessment of property transactions.

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 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, going from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in 5. Athipattu?

The median guideline value in 5. Athipattu is Rs 2,200 per sq.ft, while M.G.R. Nagar's current value is below this median.

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

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000, and the registration fee is Rs 22,000, totaling Rs 99,000.

Which office should I visit for registration in M.G.R. Nagar?

The Konnur Sub Registrar Office is responsible for registrations in M.G.R. Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.