Guideline Value for M.G.R. STREET

M.G.R. Street guideline value

The current guideline value of M.G.R. Street is Rs 1,000 per sq.ft, as per the 2023 revision. This street is located in Kelambakkam village and falls under the Thiruporur SRO. The land classification for this area is Residential Class II Type - I.

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

Over the years, the guideline value of M.G.R. Street has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft. The most recent revision in 2023 brought the value back up to Rs 1,000 per sq.ft, marking a 49% increase from the 2017 figure.

Looking at the changes between the revisions, from 2007 to 2012, there was a remarkable increase of 233%. Following that, the value dropped by 33% from 2012 to 2017. The overall change from 2007 to 2023 shows an increase of 233% in the guideline value.

Guideline values in Kelambakkam

Currently, there are no figures provided for other streets in Kelambakkam. M.G.R. Street, with its guideline value set at Rs 1,000 per sq.ft, is a notable street in this area.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

The M.G.R. Street is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kelambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction, based on the established guideline value.

Frequently asked questions

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

The current guideline value of M.G.R. Street is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties in M.G.R. Street?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Is there any guideline value information for other streets in Kelambakkam?

Currently, there are no guideline value figures provided for other streets in Kelambakkam.