Guideline Value for M.G.R. STREET

M.G.R. Street guideline value

The current guideline value of M.G.R. Street in Thiruvanmiyur village is Rs 11,000 per sq.ft, effective from the 2024 revision. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

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

The guideline value of M.G.R. Street has seen significant changes over the years. In 2002, the guideline value was Rs 896 per sq.ft, which increased to Rs 991 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,300 per sq.ft in 2007, reflecting a 31% increase. Following this, the guideline value surged to Rs 10,000 per sq.ft in 2012, representing a substantial increase of 669%. However, it decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 10,000 per sq.ft in 2023, and finally reached Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1128%. There are no figures available for the years not listed in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. M.G.R. Street's current guideline value is above this median.

• M.G.Ramachandra Road: Rs 12,660 per sq.ft (2024)
• Mettu Street: Rs 11,000 per sq.ft (2024)
• Meenatchi Nagar: Rs 7,150 per sq.ft (2024)
• Mayanam Street: Rs 3,520 per sq.ft (2024)
• Marutheeswarar Nagar: Rs 3,520 per sq.ft (2024)
• Muthulakshmi Street / Salai: Rs 11,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers M.G.R. Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps ensure that all parties are informed of the financial implications involved in property transactions. It is advisable to consult the latest figures to ensure compliance with the current regulations.

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 11,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value of M.G.R. Street has changed from Rs 896 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 1128% over the years.

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

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

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

The Chennai South Joint I Sub Registrar Office covers M.G.R. Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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

M.G.R. Street is classified as Residential Special Type - II under the Chennai South Joint I SRO.