Guideline Value for M.G.R.ROAD

M.G.R.Road guideline value

The current guideline value of M.G.R.Road in Uthandi village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

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

The guideline value for M.G.R.Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then changed to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it to Rs 2,800 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 12%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO with varying guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value of these streets is Rs 1,700 per sq.ft, placing M.G.R.Road's 2024 value above the median.

• M.G.R.Street: Rs 2,800 per sq.ft (2024)
• M.G.Rathinam Chettiar Street: Rs 1,700 per sq.ft (2024)
• Meenakshi Farm Road & Bay Avenue: Rs 2,800 per sq.ft (2024)
• Mottaisami Garden: Rs 1,100 per sq.ft (2024)
• Mayana Salai: Rs 2,200 per sq.ft (2024)
• Manthoppu Salai: Rs 3,300 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering M.G.R.Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process for property transactions in Uthandi. It determines the minimum value at which a property can be registered, helping to establish the stamp duty and registration fees applicable during the sale or purchase.

When buying or selling property, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of the financial obligations involved in the transaction. It is important to refer to the latest guideline values to ensure compliance with local regulations.

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 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification of M.G.R.Road?

M.G.R.Road is classified as Residential Class I Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in M.G.R.Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.