Guideline Value for M.G.R.STREET (SLUM BOARD)

M.G.R.Street (Slum Board) guideline value

The current guideline value of M.G.R.Street (Slum Board) in Iyyappanthangal village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of M.G.R.Street (Slum Board) has changed

The guideline value for M.G.R.Street (Slum Board) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. The value increased to Rs 1,000 per sq.ft again in 2023, and the latest revision in 2024 has raised it to Rs 1,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. M.G.R.Street (Slum Board) has a guideline value below this median.

• Mettu Street (Vanniya): Rs 2,200 per sq.ft (2024)
• Mettu Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Mettu Colony 1st Street: Rs 1,650 per sq.ft (2024)
• Mettu Colony: Rs 1,650 per sq.ft (2024)
• Mount Poonamallee Road: Rs 5,500 per sq.ft (2024)
• Maruthi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.Street (Slum Board)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.G.R.Street (Slum Board)?

The M.G.R.Street (Slum Board) is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of M.G.R.Street (Slum Board)?

The current guideline value of M.G.R.Street (Slum Board) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then back to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024. There are no figures available for the years 2002, 2003, and 2007 for this street.

What is the land classification of M.G.R.Street (Slum Board)?

M.G.R.Street (Slum Board) is classified as Residential Class IV Type - III under the Chennai South Joint I SRO.

How does the guideline value compare to other streets in Iyyappanthangal?

The guideline value of M.G.R.Street (Slum Board) at Rs 1,100 per sq.ft is below the median value of Rs 2,200 per sq.ft for other streets in Iyyappanthangal.

What are the stamp duty and registration fees for property in M.G.R.Street (Slum Board)?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. The duty is charged on the higher of the guideline value or the sale price.