Guideline Value for M.G.R. ROAD 4TH CROSS STREET

M.G.R. Road 4th Cross Street guideline value

The current guideline value of M.G.R. Road 4th Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of M.G.R. Road 4th Cross Street has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This amount decreased to Rs 3,350 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 5,000 per sq.ft in 2023, reflecting a rise of 49%. The latest revision in 2024 shows a further increase to Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing M.G.R. Road 4th Cross Street above this median.

• M.G.R. Road 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• M.G.R. Road 5th Cross Street: Rs 5,500 per sq.ft (2024)
• M.G.R. Road 2nd Street: Rs 5,500 per sq.ft (2024)
• M.G.R. Road 6th Cross Street: Rs 5,500 per sq.ft (2024)
• M.G.R. Road 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• M.G.R. Road 1st Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Road 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Road 4th Cross Street?

The M.G.R. Road 4th Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Palavakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions adhere to the prescribed rates set by the government.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of M.G.R. Road 4th Cross Street?

The current guideline value of M.G.R. Road 4th Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for M.G.R. Road 4th Cross Street?

M.G.R. Road 4th Cross Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for M.G.R. Road 4th Cross Street?

The Neelankarai Sub Registrar Office covers M.G.R. Road 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties on M.G.R. Road 4th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 3,85,000.