Guideline Value for M.G.R. STREET

M.G.R. Street guideline value

The current guideline value of M.G.R. Street in Puliyur village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam Sub Registrar Office (SRO) and is classified as Residential Class IV Type - II.

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

The guideline value for M.G.R. Street has seen several revisions over the years. In 2002, the value was Rs 511 per sq.ft, which increased to Rs 561 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 1,050 per sq.ft in 2007, reflecting an increase of +87%. Following this, the value surged to Rs 4,000 per sq.ft in 2012, which was a substantial increase of +281%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, showing a decline of -33%. The value then increased again to Rs 4,000 per sq.ft in 2023, which was a rise of +49%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, marking a +10% increase from the previous year.

It is important to note that there are no figures available for M.G.R. Street for the years not listed in the guideline value register. Overall, from 2002 to 2024, the guideline value has increased by +761%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 5,800 per sq.ft, placing M.G.R. Street's current value below this median.

• Mini Street: Rs 6,300 per sq.ft (2024)
• Minor Trustpuram 1cross St Street: Rs 6,300 per sq.ft (2024)
• Minor Trustpuram 2nd Cross Street: Rs 6,300 per sq.ft (2024)
• Minor Trustpuram 3rd Cross Street: Rs 6,300 per sq.ft (2024)
• Minor Trustpuram Main Road: Rs 6,300 per sq.ft (2024)
• METTU STREET (or) PALANI ANDAVAR KOIL STREET: Rs 5,800 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the 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. Street?

The Sub Registrar Office that covers M.G.R. Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It is used to determine the stamp duty and registration fees that are payable 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 is essential for both buyers and sellers to ensure compliance with local regulations. It helps in accurately estimating the costs involved in property transactions and facilitates a smoother registration process.

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 4,400 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 511 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +761% over the years.

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

M.G.R. Street is classified as Residential Class IV Type - II under the Kodambakkam SRO.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in M.G.R. Street?

The stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. Additionally, a registration fee of 2% is applicable.