Guideline Value for M.G.R. Street / Sathya Nagar

M.G.R. Street / Sathya Nagar guideline value

The current guideline value of M.G.R. Street / Sathya Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

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

The guideline value for M.G.R. Street / Sathya Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 153 per sq.ft. This increased to Rs 173 per sq.ft in 2003, marking a change of +13%. The 2007 revision saw a significant rise to Rs 260 per sq.ft, which was a +50% increase from the previous year. By 2017, the value had jumped to Rs 1,206 per sq.ft, reflecting a remarkable +364% change from 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, an increase of +49% from 2017. Finally, the 2024 revision has established the current value at Rs 1,980 per sq.ft, which is a +10% increase from 2023. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, which means that the guideline value for M.G.R. Street / Sathya Nagar is below this median.

• M.G.R. Street / Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• MGR Street, Gandhi Nagar Extn: Rs 1,980 per sq.ft (2024)
• M.G.R. Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• MG Thennavan Street, Poncabriel Nagar: Rs 1,980 per sq.ft (2024)
• M.G.R.Salai: Rs 1,980 per sq.ft (2024)
• MGR Road, Nagelkeni: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R. Street / Sathya Nagar?

The Sub Registrar Office that covers M.G.R. Street / Sathya Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Pammal. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an established value rather than the negotiated sale price.

When buying or selling property, the guideline value is referenced to determine the official value of the property, which in turn affects the financial obligations of both the buyer and seller. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of M.G.R. Street / Sathya Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 153 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of +1194% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is higher than the current guideline value of M.G.R. Street / Sathya Nagar.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,78,200.

Where can I find the Sub Registrar Office for M.G.R. Street / Sathya Nagar?

The Sub Registrar Office for M.G.R. Street / Sathya Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.