Guideline Value for M.G.R. SALAI

M.G.R. Salai guideline value

The current guideline value of M.G.R. Salai is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Satthankadu village under the Thiruvottiyur SRO, classified as Commercial Special Type - I.

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

Over the years, the guideline value of M.G.R. Salai has seen significant changes. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012, marking a rise of 218%. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, showing an increase of 49%, and currently stands at Rs 3,800 per sq.ft from the 2024 revision, reflecting a rise of 9% from the previous year.

The register has no figure for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 245%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,400 per sq.ft. M.G.R. Salai's 2024 figure is above this median.

• Mettu Street: Rs 3,400 per sq.ft (2024)
• Manali Express Road: Rs 3,400 per sq.ft (2024)
• Natraja Gramani Chettiar street: Rs 3,400 per sq.ft (2024)
• New Street: Rs 3,900 per sq.ft (2024)
• North Lane: Rs 3,400 per sq.ft (2024)
• North Mada Street: Rs 3,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers M.G.R. Salai is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Satthankadu, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. This value is regularly updated to reflect changes in the real estate market, making it an important reference point for all property dealings.

Frequently asked questions

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

The current guideline value of M.G.R. Salai is Rs 3,800 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 1,100 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 245%.

What is the land classification of M.G.R. Salai?

M.G.R. Salai is classified as Commercial Special Type - I under the Thiruvottiyur SRO.

What are the stamp duty rates for property in M.G.R. Salai?

The stamp duty for property transactions in M.G.R. Salai is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for M.G.R. Salai?

The Thiruvottiyur Sub Registrar Office covers M.G.R. Salai and is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.