Guideline Value for M.G.R. Street Periyar Nagar

M.G.R. Street Periyar Nagar guideline value

The current guideline value of M.G.R. Street Periyar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class III Type - I.

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

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for M.G.R. Street in the revisions of 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, positioning M.G.R. Street Periyar Nagar below this median.

• Midhantha Vinayagar Koil Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Street: Rs 1,100 per sq.ft (2024)
• Mohan Avenue: Rs 1,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office covering M.G.R. Street Periyar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. It ensures that the transaction is recorded accurately and transparently, reflecting the true value of the property in the eyes of the law.

Frequently asked questions

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

The current guideline value of M.G.R. Street Periyar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, marking a 10% increase. There was no change in the value from 2012 to 2023.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. M.G.R. Street Periyar Nagar's guideline value is below this median.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for M.G.R. Street Periyar Nagar?

The Selaiyur Sub Registrar Office handles registrations for M.G.R. Street Periyar Nagar. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.