Guideline Value for M.G.R. Street

M.G.R. Street guideline value

The current guideline value of M.G.R. Street in Peerklankaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

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. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent 2024 revision has further increased this to Rs 1,320 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are a total of 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which indicates that M.G.R. Street's 2024 figure is below this median.

• M.G.R. Nagar Valmeeki Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Thiruvalluvar Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Kattabomman Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar ilango Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Bharathiyar Street: Rs 880 per sq.ft (2024)
• M.G.R 2st cross street: Rs 880 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total 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.

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

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

The Sub Registrar Office that covers M.G.R. Street is 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 Peerklankaranai

The guideline value is a critical factor in the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current value of the property in the area. This helps in maintaining transparency and accountability in real estate 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the guideline values in Peerklankaranai?

In Peerklankaranai, guideline values range from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. M.G.R. Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000. The stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

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

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