Guideline Value for M.G.R. Street

M.G.R. Street guideline value

The current guideline value of M.G.R. Street in Agaramthen village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

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 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and currently, it stands at Rs 440 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,700 per sq.ft, with a median value of Rs 830 per sq.ft. M.G.R. Street's 2024 guideline value is below this median.

• M.M.Nagar: Rs 830 per sq.ft (2024)
• M.M. Nagar Phase-2: Rs 1,430 per sq.ft (2024)
• Monisha Avenue: Rs 1,760 per sq.ft (2024)
• Mayana Salai (West): Rs 830 per sq.ft (2024)
• Mayana Salai (East): Rs 830 per sq.ft (2024)
• Muthu Mariamman Street: Rs 830 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

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

The M.G.R. Street falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value plays a crucial role in property transactions in Agaramthen. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring transparency and fairness in the registration process.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the other streets in Agaramthen with their guideline values?

Other streets in Agaramthen include M.M.Nagar at Rs 830 per sq.ft, M.M. Nagar Phase-2 at Rs 1,430 per sq.ft, and Monisha Avenue at Rs 1,760 per sq.ft, among others.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600 based on the current guideline value.

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

The Tambaram Joint 1 Sub Registrar Office covers M.G.R. Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.