Guideline Value for M.G.R.Cross Street

M.G.R.Cross Street guideline value

The current guideline value of M.G.R.Cross Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Perinjampakkam village, under the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

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

The guideline value for M.G.R.Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 100 per sq.ft. The 2017 revision marked a significant change, dropping the value to Rs 67 per sq.ft, a decrease of 33% from the previous figure. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, bringing it back to Rs 100 per sq.ft. The most recent revision in 2024 maintained this value, showing no change from the previous year. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 100 per sq.ft.

Guideline values in Perinjampakkam

In Perinjampakkam, 18 streets under the Sriperumpudur SRO have a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 150 per sq.ft. M.G.R.Cross Street's 2024 figure is below this median.

• M.G.R.Nagar: Rs 100 per sq.ft (2024)
• Krishna Nagar: Rs 200 per sq.ft (2024)
• Jothibasu Nagar: Rs 500 per sq.ft (2024)
• Rajiv Nagar: Rs 150 per sq.ft (2024)
• Indhira Nagar 2nd Street: Rs 100 per sq.ft (2024)
• Indhira Nagar 1st Street: Rs 100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers M.G.R.Cross Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial figure used during the registration of property transactions in Perinjampakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that the sale price reflects or exceeds the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of M.G.R.Cross Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained Rs 100 per sq.ft since 2012, with a drop to Rs 67 per sq.ft in 2017 before returning to Rs 100 per sq.ft in 2023 and 2024.

What is the land classification of M.G.R.Cross Street?

M.G.R.Cross Street is classified as Residential Class IV Type - I under the Tamil Nadu land classification system.

Where can I find the Sub Registrar Office for M.G.R.Cross Street?

The Sub Registrar Office for M.G.R.Cross Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in M.G.R.Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000.