Guideline Value

Corporate

Guideline Value for M.G.R.NAGAR (NEAR K.K.SALAI)

₹3900/sq.ft.

The guideline value for M.g.r.nagar (near K.k.salai) in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 3900 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3900 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on M.g.r.nagar (near K.k.salai)

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M.G.R.Nagar (Near K.K.Salai) guideline value

The current guideline value of M.G.R.Nagar (Near K.K.Salai) is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of M.G.R.Nagar (Near K.K.Salai) has changed

Since the 2017 revision, the guideline value has seen significant increases. The 2017 revision set the value at Rs 2,345 per sq.ft, which rose to Rs 3,500 per sq.ft in the 2023 revision. The latest 2024 revision reflects a further increase to Rs 3,900 per sq.ft, marking an 11% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 66%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The absence of values for these years means that the only available revisions are from 2017, 2023, and 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing M.G.R.Nagar (Near K.K.Salai) above this median.

Stamp duty and registration fee for property in M.G.R.Nagar (Near K.K.Salai)

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R.Nagar (Near K.K.Salai)?

The Sub Registrar Office that covers M.G.R.Nagar (Near K.K.Salai) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of M.G.R.Nagar (Near K.K.Salai)?

The current guideline value of M.G.R.Nagar (Near K.K.Salai) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024. This represents a 66% increase over the seven-year period.

What are the stamp duty and registration fees for property transactions in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers M.G.R.Nagar (Near K.K.Salai)?

The Neelankarai Sub Registrar Office covers M.G.R.Nagar (Near K.K.Salai) and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, with M.G.R.Nagar (Near K.K.Salai) being above this median at Rs 3,900 per sq.ft.