Guideline Value for M.G.R.Nagar Ramalingam Street

M.G.R.Nagar Ramalingam Street guideline value

The current guideline value of M.G.R.Nagar Ramalingam 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 Ramalingam Street has changed

The guideline value for M.G.R.Nagar Ramalingam Street has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,407 per sq.ft. This increased to Rs 2,099 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase further to Rs 2,350 per sq.ft, which is a 12% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging 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, placing M.G.R.Nagar Ramalingam Street above this median.

• M.G.R. Nagar Main Road: Rs 2,350 per sq.ft (2024)
• M.G.R.Nagar Ist 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 2nd Street: Rs 2,350 per sq.ft (2024)
• MGR Nagar: Rs 1,760 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 Ramalingam 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, charged at 7%, would be Rs 1,64,500, while the registration fee at 2% would be Rs 47,000, bringing the total to Rs 2,11,500. 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 Ramalingam Street?

The Sub Registrar Office that covers M.G.R.Nagar Ramalingam 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 during the registration process when buying or selling property in Anakaputhur. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of M.G.R.Nagar Ramalingam 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 then to 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 on this street?

For a property valued at Rs 23,50,000, the stamp duty would be Rs 1,64,500 and the registration fee would be Rs 47,000, totaling Rs 2,11,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for this street?

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

What is the land classification for M.G.R.Nagar Ramalingam Street?

M.G.R.Nagar Ramalingam Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.