Guideline Value for M.G.R. Nagar

M.G.R. Nagar guideline value

The current guideline value for M.G.R. Nagar, located in Kattupakkam village under the Kunrathur SRO, is Rs 2,090 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

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

Over the years, the guideline value for M.G.R. Nagar has seen significant changes. The 2003 revision recorded a guideline value of Rs 209 per sq.ft. This increased to Rs 350 per sq.ft in 2007, marking a rise of 67%. The value then surged dramatically to Rs 1,900 per sq.ft in 2012, reflecting a remarkable increase of 443%. However, it decreased to Rs 1,273 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 1,900 per sq.ft, which then rose by 10% to the current value of Rs 2,090 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. Overall, from 2003 to 2024, the guideline value has increased by 900%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Kattupakkam

Kattupakkam village has a range of guideline values across its 75 streets under the Kunrathur SRO, with values varying from Rs 1,980 to Rs 4,290 per sq.ft. The median value is Rs 2,090 per sq.ft, making M.G.R. Nagar's 2024 figure equal to this median.

• Moogambigai Nagar: Rs 2,090 per sq.ft (2024)
• Maruthi Nagar: Rs 3,520 per sq.ft (2024)
• Mount - Poonamallee trunk Road: Rs 4,290 per sq.ft (2024)
• M.R.V. Avenue: Rs 1,980 per sq.ft (2024)
• M.S. Nagar: Rs 2,090 per sq.ft (2024)
• M.S.R. Nagar: Rs 2,090 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 2,090 per sq.ft, the guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that 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 covering M.G.R. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kattupakkam. It serves as the basis for calculating the stamp duty and registration fees payable during the transaction. Buyers and sellers must ensure that the guideline value is considered to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the transaction adheres to the regulations set by the Registration Department.

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 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 209 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 900% over this period.

What is the median guideline value in Kattupakkam?

The median guideline value in Kattupakkam is Rs 2,090 per sq.ft, which is the same as the current value for M.G.R. Nagar.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 1,88,100, based on the current guideline value of Rs 20,90,000.

Which office handles registrations for M.G.R. Nagar?

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