Guideline Value for M.G.R.Nagar

M.G.R.Nagar guideline value

The current guideline value for M.G.R.Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Vadakal_C village, under the Sriperumpudur SRO, and is classified as a New House Site Type -II (Unapproved Lay-Out).

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

As per the register, M.G.R.Nagar has had a consistent guideline value of Rs 400 per sq.ft in both the 2023 and 2024 revisions. The revisions prior to these years, specifically in 2017, 2012, 2007, 2003, and 2002, have no figures recorded for this street.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 400 per sq.ft. This stability indicates that the value has not fluctuated during this period.

Guideline values in Vadakal_C

In Vadakal_C, there are 61 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which is equal to the current value for M.G.R.Nagar.

• Mohamed Nagar: Rs 300 per sq.ft (2024)
• Melmaruvathur Adiparasakthi Nagar: Rs 550 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 per sq.ft (2024)
• Mahidhara supreme classic: Rs 1,200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 550 per sq.ft (2024)
• Kumaran nagar: Rs 550 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total charges to Rs 36,000. It is important to note that 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 details on fees.

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

The M.G.R.Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakal_C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the registration office assesses the sale price against the guideline value. The higher of the two figures is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

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 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for M.G.R.Nagar has remained at Rs 400 per sq.ft for both the 2023 and 2024 revisions. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

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

For a property valued at Rs 4,00,000, the stamp duty at 7% is Rs 28,000, and the registration fee at 2% is Rs 8,000, totaling Rs 36,000. Duty is charged on the higher of the guideline value or the sale price.

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

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The registration office uses the higher figure between the sale price and the guideline value to calculate the applicable duties and fees.