Guideline Value for M.G.R.Nagar

M.G.R.Nagar guideline value

The current guideline value of M.G.R.Nagar, located in Perinjampakkam village under the Sriperumpudur SRO, is Rs 100 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class IV Type - I.

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

The guideline value for M.G.R.Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision marked a decrease from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2012. The 2023 revision also maintained the value at Rs 100 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 shows no increase. The current value of Rs 100 per sq.ft is consistent with the previous revisions from 2023 and 2012.

Guideline values in Perinjampakkam

In Perinjampakkam, there are 18 streets under the Sriperumpudur SRO that carry 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.Nagar's 2024 figure is below this median.

• M.G.R.Cross Street: 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.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total 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, bringing the total fees to 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 use the stamp duty and registration fee calculator for more information on fees applicable to your property purchase.

Which Sub Registrar Office covers M.G.R.Nagar?

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

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

The guideline value is a crucial factor in property transactions in Perinjampakkam, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees, which are mandatory when transferring property ownership.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during the registration process.

Frequently asked questions

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

The current guideline value of M.G.R.Nagar is Rs 100 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft since the 2012 revision, with a notable increase of 49% from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023.

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

The land classification for M.G.R.Nagar is Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in M.G.R.Nagar?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for M.G.R.Nagar located?

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