Guideline Value for M.G.R. Street, Chennai 82

M.G.R. Street, Chennai 82 guideline value

The current guideline value of M.G.R. Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of M.G.R. Street, Chennai 82 has changed

The guideline value for M.G.R. Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures for M.G.R. Street in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the 2024 figure for M.G.R. Street below that median.

• M.G.R. Street, Chennai 82 (Venkatesa Nagar): Rs 4,400 per sq.ft (2024)
• Mettu Street Lane: Rs 3,800 per sq.ft (2024)
• Mettu Street: Rs 5,500 per sq.ft (2024)
• Moorthy Raja Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• M.P.Sivagnanam Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Medavakkam Tank Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Street, Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. 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, Chennai 82?

The Sub Registrar Office that covers M.G.R. Street, Chennai 82 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and reflects the minimum value at which a property can be registered.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures that the transaction is transparent and in compliance with government regulations.

Frequently asked questions

What is the current guideline value of M.G.R. Street, Chennai 82?

The current guideline value of M.G.R. Street, Chennai 82 is Rs 4,400 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 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 340% over the years.

What is the registration office for M.G.R. Street, Chennai 82?

The registration office for M.G.R. Street, Chennai 82 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.

What is the land classification for M.G.R. Street, Chennai 82?

The land classification for M.G.R. Street, Chennai 82 is Residential Class II Type - I, indicating its suitability for residential purposes.