Guideline Value for M.G.R. Street

M.G.R. Street guideline value

The current guideline value of M.G.R. Street in Pozhichalur village, under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

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

The guideline value for M.G.R. Street has undergone several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 804 per sq.ft. This was followed by the 2023 revision, which increased the value to Rs 1,200 per sq.ft, marking a significant increase of 49%. The latest revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for M.G.R. Street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is the same as the current guideline value for M.G.R. Street.

• Millima Nagar: Rs 1,320 per sq.ft (2024)
• M.K.Stalin Street: Rs 1,320 per sq.ft (2024)
• Moobika Nagar: Rs 1,320 per sq.ft (2024)
• Moorthi Street: Rs 1,320 per sq.ft (2024)
• Moovar Nagar: Rs 1,320 per sq.ft (2024)
• Meetu Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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?

The Sub Registrar Office that covers M.G.R. Street 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 Pozhichalur

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that they are based on a standardized value rather than the negotiated sale price. This helps maintain transparency in property transactions.

Frequently asked questions

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

The current guideline value of M.G.R. Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 64% across these years.

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

M.G.R. Street is classified under Residential Class I Type - II, indicating its designation for residential purposes.

Where is the Sub Registrar Office for M.G.R. Street located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000.