Guideline Value for M.G.R. Street, Anna Nagar

M.G.R. Street, Anna Nagar guideline value

The current guideline value of M.G.R. Street, Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

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

The guideline value for M.G.R. Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,675 per sq.ft. This figure increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is a further increase of 10% from the previous year.

It is important to note that there are no recorded figures for M.G.R. Street in the revisions from 2002, 2003, 2007, and 2012. Overall, the guideline value has increased by 64% from 2017 to 2024.

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 for these streets is Rs 2,090 per sq.ft, placing M.G.R. Street's value above this median.

• MGR Street, Gandhi Nagar Extn: Rs 1,980 per sq.ft (2024)
• M.G.R. Street / Sathya Nagar: Rs 1,980 per sq.ft (2024)
• M.G.R. Street / Sholavaram Nagar: Rs 1,980 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, Anna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is essential to note that 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, Anna Nagar?

The Sub Registrar Office that covers M.G.R. Street, Anna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

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

The current guideline value of M.G.R. Street, Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

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

M.G.R. Street is classified as Commercial Class I Type - II. This classification can impact the types of developments allowed in the area.

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

The Sub Registrar Office for M.G.R. Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all property registrations in the area.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.