Guideline Value for M.G.R.STREET

M.G.R.Street guideline value

The current guideline value of M.G.R.Street in Thiruvancheri village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

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

The guideline value for M.G.R.Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,980 per sq.ft, marking a 32% increase from the previous year.

Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase. It is important to note that the register has no figures for M.G.R.Street for the years 2002, 2003, and 2007.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which is the same as the current value for M.G.R.Street.

• Muthumariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Nandanan Street: Rs 1,100 per sq.ft (2024)
• Nandanar Street: Rs 1,100 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)
• Nethaji Street: Rs 1,100 per sq.ft (2024)
• L.S.S. Garden: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers M.G.R.Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of M.G.R.Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,78,200.

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

The Pallavaram Sub Registrar Office covers M.G.R.Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

Where can I find more information about guideline values in Thiruvancheri?

More information can be found in the guideline value register maintained by the Registration Department, which details the values for various streets in Thiruvancheri.