Guideline Value for M.G.R. St ( Ward No.22 )

M.G.R. St ( Ward No.22 ) guideline value

The current guideline value for M.G.R. St ( Ward No.22 ) is Rs 1,300 per sq.ft. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of M.G.R. St ( Ward No.22 ) has changed

The guideline value for M.G.R. St ( Ward No.22 ) has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, or 2017. In the 2023 revision, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2024 revision, reflecting a change of +8%.

From 2023 to 2024, the increase in the guideline value indicates a shift in the valuation of properties in this area. The current figure of Rs 1,300 per sq.ft is the latest and effective from 1 July 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that M.G.R. St ( Ward No.22 ) is below this median.

• M.G.R.Street ( Ward No.7 ): Rs 1,300 per sq.ft (2024)
• M.H. Road (Ward-05): Rs 3,300 per sq.ft (2024)
• M.H. Road (Ward-08): Rs 3,300 per sq.ft (2024)
• Micetich Colony (Ward-18): Rs 1,600 per sq.ft (2024)
• M.G.R.Street (Burma Colony): Rs 1,600 per sq.ft (2024)
• Milk Colony Main Road (Ward-16): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. St ( Ward No.22 )

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers M.G.R. St ( Ward No.22 )?

The Sub Registrar Office covering M.G.R. St ( Ward No.22 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Madhavaram. It serves as a reference point for determining the applicable stamp duty and registration fees, which are essential costs for buyers and sellers alike.

When a property is bought or sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as determined by the local authorities. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of M.G.R. St ( Ward No.22 )?

The current guideline value of M.G.R. St ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an increase of +8%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification of M.G.R. St ( Ward No.22 )?

M.G.R. St ( Ward No.22 ) is classified as Residential Class III Type - I, which indicates the zoning and intended use of the land.

Where can I find the registration office for M.G.R. St ( Ward No.22 )?

The registration office for M.G.R. St ( Ward No.22 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in M.G.R. St ( Ward No.22 )?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.