Guideline Value for M.G.R. Street (Bharathi Nagar)

M.G.R. Street (Bharathi Nagar) guideline value

The current guideline value of M.G.R. Street (Bharathi Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of M.G.R. Street (Bharathi Nagar) has changed

The guideline value for M.G.R. Street (Bharathi Nagar) has undergone several revisions over the years. In 2007, the guideline value was Rs 620 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 303%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, representing an increase of 61% from the 2017 figure.

It is important to note that there are no figures for M.G.R. Street in the register for the years 2023, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 335%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that the 2024 figure for M.G.R. Street (Bharathi Nagar) is below the median.

• M.G.R. Nagar (100 Feet Road): Rs 8,200 per sq.ft (2024)
• M.M. Ramasamy Street: Rs 4,100 per sq.ft (2024)
• Model House: Rs 7,700 per sq.ft (2024)
• Moogambikai Street: Rs 4,100 per sq.ft (2024)
• Moonai Garden Thottam Pillaiyar Koil Street: Rs 4,100 per sq.ft (2024)
• Moovender Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Street (Bharathi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty is calculated at 7%, resulting in Rs 1,89,000, and the registration fee is charged at 2%, which is Rs 54,000. Therefore, the total cost for stamp duty and registration fees together is Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.G.R. Street (Bharathi Nagar)?

The Sub Registrar Office that covers M.G.R. Street (Bharathi Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Kodambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the sale or purchase of a property. The guideline value is determined by the state government and is revised periodically to reflect changes in the real estate market.

When buying or selling a property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of M.G.R. Street (Bharathi Nagar)?

The current guideline value of M.G.R. Street (Bharathi Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 335% over the years.

What is the registration office for M.G.R. Street (Bharathi Nagar)?

The registration office for M.G.R. Street (Bharathi Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in M.G.R. Street (Bharathi Nagar) is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

For more details on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.