Guideline Value for M.G.R.Street ( Ward No.7 )

M.G.R.Street ( Ward No.7 ) guideline value

The current guideline value of M.G.R.Street ( Ward No.7 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of M.G.R.Street ( Ward No.7 ) has changed

The guideline value for M.G.R.Street ( Ward No.7 ) has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. The 2023 revision set the value at Rs 1,200 per sq.ft, and the latest 2024 revision increased it to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing M.G.R.Street ( Ward No.7 ) below that median.

• M.G.R. St ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• M.H. Road (Ward-05): Rs 3,300 per sq.ft (2024)
• M.H. Road (Ward-08): Rs 3,300 per sq.ft (2024)
• Micetich Colony (Ward-18): Rs 1,600 per sq.ft (2024)
• M.G.R.Street (Burma Colony): Rs 1,600 per sq.ft (2024)
• Milk Colony Main Road (Ward-16): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.Street ( Ward No.7 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.G.R.Street ( Ward No.7 )?

The Sub Registrar Office that covers M.G.R.Street ( Ward No.7 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and serves as a benchmark for property transactions within the area.

At the time of registration, buyers and sellers must consider the guideline value as it influences the overall cost of the transaction. It is essential 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 ( Ward No.7 )?

The current guideline value of M.G.R.Street ( Ward No.7 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification of M.G.R.Street ( Ward No.7 )?

M.G.R.Street ( Ward No.7 ) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in M.G.R.Street ( Ward No.7 )?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers M.G.R.Street ( Ward No.7 )?

The Madhavaram Sub Registrar Office covers M.G.R.Street ( Ward No.7 ) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.