Guideline Value for M.G.R.NAGAR 1 TO 7 STREETS

M.G.R.Nagar 1 To 7 Streets guideline value

The current guideline value for M.G.R.Nagar 1 To 7 Streets is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is located in S. Kullathur village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of M.G.R.Nagar 1 To 7 Streets has changed

The guideline value for M.G.R.Nagar 1 To 7 Streets has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, reflecting a rise of 30%. The most recent revision in 2024 has set the value at Rs 2,530 per sq.ft, representing a significant increase of 27% from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, indicating that M.G.R.Nagar 1 To 7 Streets' 2024 figure is below this median.

• Maxworth Nagar 1 To 10 Main Road: Rs 4,400 per sq.ft (2024)
• Maxworth Nagar: Rs 4,400 per sq.ft (2024)
• Maruthupandiyar Avenue: Rs 2,750 per sq.ft (2024)
• Maruthapanidan Avenue 1 To 8 Streets: Rs 2,750 per sq.ft (2024)
• Marudhapandiayar Avenue Etention: Rs 2,750 per sq.ft (2024)
• Mariamman Koil Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.Nagar 1 To 7 Streets

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R.Nagar 1 To 7 Streets?

The Sub Registrar Office that covers M.G.R.Nagar 1 To 7 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor when registering property transactions in S. Kullathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to their property.

When you buy or sell property, the guideline value helps in calculating the applicable taxes and fees, which are necessary for a legal transfer of ownership. It is essential to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.G.R.Nagar 1 To 7 Streets?

The current guideline value of M.G.R.Nagar 1 To 7 Streets is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for M.G.R.Nagar 1 To 7 Streets?

M.G.R.Nagar 1 To 7 Streets is classified as Residential Class I Type - II.

What is the registration office for M.G.R.Nagar 1 To 7 Streets?

The registration office for M.G.R.Nagar 1 To 7 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in M.G.R.Nagar 1 To 7 Streets?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.