Guideline Value for M.G.R.Nagar 3rd Street

M.G.R.Nagar 3rd Street guideline value

The current guideline value of M.G.R.Nagar 3rd Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of M.G.R.Nagar 3rd Street has changed

The guideline value for M.G.R.Nagar 3rd Street has undergone several revisions over the years. The figures from the revisions are as follows: in 2017, the value was Rs 1,407 per sq.ft; in 2023, it increased to Rs 2,099 per sq.ft; and the latest revision in 2024 set it at Rs 2,350 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 12%. Overall, from 2017 to 2024, the guideline value has increased by 67%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO with a guideline value range from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, making the 2024 figure for M.G.R.Nagar 3rd Street above that median.

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

Stamp duty and registration fee for property in M.G.R.Nagar 3rd 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, and the registration fee at 2% would be Rs 47,000, bringing the total fees to Rs 2,11,500. The duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.G.R.Nagar 3rd Street?

The Sub Registrar Office that covers M.G.R.Nagar 3rd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Anakaputhur. It helps determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted transparently and fairly.

When a property is registered, the guideline value serves as a benchmark to assess the value of the property, which is crucial for legal and taxation purposes. Buyers and sellers should be aware of the current guideline values to make informed decisions during transactions.

Frequently asked questions

What is the current guideline value of M.G.R.Nagar 3rd Street?

The current guideline value of M.G.R.Nagar 3rd Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,407 per sq.ft in 2017 to Rs 2,099 per sq.ft in 2023, and it is now Rs 2,350 per sq.ft in 2024. This represents an overall increase of 67% from 2017 to 2024.

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

For a property with a guideline value of Rs 23,50,000, the stamp duty is Rs 1,64,500, and the registration fee is Rs 47,000, totaling Rs 2,11,500.

Which office handles property registrations in M.G.R.Nagar 3rd Street?

The Pammal Sub Registrar Office handles property registrations for M.G.R.Nagar 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for assessing the property's value, which is vital for legal and taxation purposes.