Guideline Value for M.G.R.ROAD

M.G.R.Road guideline value

The current guideline value of M.G.R.Road in Paruthipattu village is Rs 801 per sq.ft, effective from 1 July 2024. This street falls under the Avadi Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

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

The guideline value of M.G.R.Road has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased to Rs 600 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 469 per sq.ft in 2017, reflecting a decline of 22%. The value rose significantly to Rs 800 per sq.ft in 2023, and has now reached Rs 801 per sq.ft in the 2024 revision, showing no change.

Overall, from 2007 to 2024, the guideline value has increased by 220%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, with a median value of Rs 1,625 per sq.ft. M.G.R.Road's current figure of Rs 801 per sq.ft is below this median.

• M.G.R.Nagar Koladi St: Rs 950 per sq.ft (2024)
• M.G.R.Nagar Kalathumedu: Rs 801 per sq.ft (2024)
• Mithila-I: Rs 1,375 per sq.ft (2024)
• Mithila II: Rs 1,375 per sq.ft (2024)
• M.K.Garden: Rs 950 per sq.ft (2024)
• Mettu St Kannigapuram: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 801 per sq.ft, the total guideline value would be Rs 8,01,000. The stamp duty at 7% would amount to Rs 56,070, and the registration fee at 2% would be Rs 16,020, bringing the total to Rs 72,090. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The M.G.R.Road falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Paruthipattu. It is used to determine the stamp duty and registration fees payable during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When purchasing or selling property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as it reflects the official valuation set by the government.

Frequently asked questions

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

The current guideline value of M.G.R.Road is Rs 801 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 801 per sq.ft in 2024, representing an overall increase of 220% over the years.

What are the registration fees for property in M.G.R.Road?

The registration fees for property transactions in M.G.R.Road are calculated based on the guideline value. For example, on a property valued at Rs 8,01,000, the total registration fee would be Rs 72,090, including stamp duty and registration fees.

Which office handles the registration for M.G.R.Road?

The Avadi Sub Registrar Office handles the registration for M.G.R.Road, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District.

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

The guideline value is significant as it determines the minimum value for property registration and the associated fees. It ensures that property transactions are conducted at a fair and transparent value as set by the government.