Guideline Value for M.G.R.ST

M.G.R.St guideline value

The current guideline value of M.G.R.St in Vilingiyambakkam village under the Avadi SRO is Rs 1,625 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

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

Over the years, the guideline value of M.G.R.St has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,625 per sq.ft in 2024, marking an 8% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. Overall, comparing the guideline value from 2012 to 2024, there has been an increase of 8%.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 4,400 per sq.ft. The median value among these streets is Rs 935 per sq.ft, making M.G.R.St's 2024 figure of Rs 1,625 per sq.ft above the median.

• Mettu Street: Rs 800 per sq.ft (2024)
• Moses 1st Cross St: Rs 1,310 per sq.ft (2024)
• Moses St: Rs 1,310 per sq.ft (2024)
• M.R.F.Nagar: Rs 935 per sq.ft (2024)
• M.T.H.Road: Rs 1,320 per sq.ft (2024)
• M.T.H. Road (Commercial): Rs 1,590 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value amounts to Rs 16,25,000. The stamp duty at 7% would be Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, bringing the total fees to Rs 1,46,250. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The M.G.R.St falls under the jurisdiction of the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, 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 Vilingiyambakkam

The guideline value is a crucial factor in property transactions in Vilingiyambakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

This ensures that the government receives adequate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial obligations involved in the registration process.

Frequently asked questions

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

The current guideline value of M.G.R.St is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,625 per sq.ft in 2024.

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

M.G.R.St is classified as Residential Special Type - II.

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

For a property valued at Rs 16,25,000, the stamp duty would be Rs 1,13,750, and the registration fee would be Rs 32,500, totaling Rs 1,46,250.

Which office handles registrations for M.G.R.St?

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