Guideline Value for M.G.R.Nagar

M.G.R.Nagar guideline value

The current guideline value of M.G.R.Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Periyapalayam village under the Arani_Tiruvallur SRO, classified as Residential Class I Type - II.

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

The guideline value for M.G.R.Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 100 per sq.ft. This increased to Rs 300 per sq.ft in 2012, followed by a decrease to Rs 201 per sq.ft in 2017. The 2023 revision maintained the value at Rs 300 per sq.ft, and the current 2024 revision also stands at Rs 300 per sq.ft. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. The jump from 2007 to 2012 saw a notable rise of 200%, while the transition from 2012 to 2017 reflected a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Periyapalayam

In Periyapalayam village, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 160 to Rs 600 per sq.ft, with a median value of Rs 200 per sq.ft. M.G.R.Nagar's 2024 figure is above this median.

• Mettu Street: Rs 200 per sq.ft (2024)
• MA.PO.C.Nagar: Rs 160 per sq.ft (2024)
• Magakavi Bharathi Nagar: Rs 600 per sq.ft (2024)
• Madha Koil Street: Rs 160 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 250 per sq.ft (2024)
• Nethaji Nagar: Rs 200 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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?

The Sub Registrar Office that covers M.G.R.Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Periyapalayam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally.

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then to Rs 201 per sq.ft in 2017, and back to Rs 300 per sq.ft in 2023 and 2024.

What is the stamp duty rate for properties in M.G.R.Nagar?

The stamp duty rate for properties in M.G.R.Nagar is 7% of the guideline value or sale price, whichever is higher.

What are the registration fees for properties in M.G.R.Nagar?

The registration fee for properties in M.G.R.Nagar is 2% of the guideline value or 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 No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.