Guideline Value for M.G.R.2nd Cross Street

M.G.R.2nd Cross Street guideline value

The current guideline value of M.G.R.2nd Cross Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Residential Class III Type - I.

How the guideline value of M.G.R.2nd Cross Street has changed

Over the years, the guideline value of M.G.R.2nd Cross Street has seen significant changes. The 2017 revision recorded a guideline value of Rs 1,407 per sq.ft, which increased to Rs 2,099 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 2,350 per sq.ft, reflecting a 12% increase from the previous year.

When considering the overall change from 2017 to 2024, the guideline value has increased by 67%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Anakaputhur

Anakaputhur village has a total of 501 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing M.G.R.2nd Cross Street's 2024 figure above this median.

• M.G.R. 3rd Cross Street: Rs 2,350 per sq.ft (2024)
• M.G.R. Ist Cross Street: Rs 2,350 per sq.ft (2024)
• MGR Nagar: Rs 1,760 per sq.ft (2024)
• M.G.R.Nagar 2nd Street: Rs 2,350 per sq.ft (2024)
• M.G.R.Nagar 3rd Street: Rs 2,350 per sq.ft (2024)
• M.G.R.Nagar Ist Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, while the registration fee at 2% would be Rs 47,000, resulting in a total of Rs 2,11,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R.2nd Cross Street?

The Sub Registrar Office that covers M.G.R.2nd Cross 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 details.

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

The guideline value is a crucial factor when buying or selling property in Anakaputhur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and documented according to the prevailing rates.

Frequently asked questions

What is the current guideline value of M.G.R.2nd Cross Street?

The current guideline value of M.G.R.2nd Cross Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,407 per sq.ft to Rs 2,350 per sq.ft in 2024, which is a total increase of 67% over this period.

What is the registration fee for a property on M.G.R.2nd Cross Street?

The registration fee for a property on M.G.R.2nd Cross Street is 2% of the guideline value. For example, on a 1,000 sq.ft plot valued at Rs 23,50,000, the registration fee would be Rs 47,000.

Which office handles property registrations for M.G.R.2nd Cross Street?

The Pammal Sub Registrar Office is responsible for property registrations in M.G.R.2nd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value?

The guideline value is important as it sets the minimum price for property transactions in Anakaputhur. It is used to calculate stamp duty and registration fees, ensuring that property transactions are fairly assessed and documented.