Guideline Value for M.G.R. Prathana salai (Bhavani nagar)

M.G.R. Prathana salai (Bhavani nagar) guideline value

The current guideline value of M.G.R. Prathana salai (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO with a land classification of Residential Special Type - III.

How the guideline value of M.G.R. Prathana salai (Bhavani nagar) has changed

The guideline value for M.G.R. Prathana salai has seen several revisions over the years. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,005 per sq.ft. The 2023 revision brought the value up to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing M.G.R. Prathana salai's 2024 figure above that median.

• M.G.R. Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• M.G.R. Street (v.o.c.nagar): Rs 1,100 per sq.ft (2024)
• M.G.R. Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• M.G.R. Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• M.S.Nagar: Rs 1,300 per sq.ft (2024)
• Mullai Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Prathana salai (Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Prathana salai (Bhavani nagar)?

The Sub Registrar Office that covers M.G.R. Prathana salai (Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to calculate the necessary fees accurately.

Frequently asked questions

What is the current guideline value of M.G.R. Prathana salai (Bhavani nagar)?

The current guideline value of M.G.R. Prathana salai (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting a total increase of 300% over this period.

What is the land classification of M.G.R. Prathana salai (Bhavani nagar)?

The land classification of M.G.R. Prathana salai (Bhavani nagar) is Residential Special Type - III.

Where can I find the Sub Registrar Office for M.G.R. Prathana salai (Bhavani nagar)?

The Sub Registrar Office for M.G.R. Prathana salai (Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in M.G.R. Prathana salai (Bhavani nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.