Guideline Value for M.G.R.Street

M.G.R.Street guideline value

The current guideline value of M.G.R.Street in Amarampedu village, under the Sriperumpudur SRO, is Rs 126 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III 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. In 2012, the value was Rs 125 per sq.ft, which then decreased to Rs 84 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 126 per sq.ft. The 2023 revision also maintained the same value of Rs 126 per sq.ft for 2024, indicating no change.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street, as the register does not contain any data for those years.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing M.G.R.Street's 2024 figure below that median.

• Maruthuvar Street: Rs 150 per sq.ft (2024)
• Manickapuri Extn: Rs 100 per sq.ft (2024)
• Manickapuri: Rs 100 per sq.ft (2024)
• Mandapam Street: Rs 150 per sq.ft (2024)
• Madha garden: Rs 200 per sq.ft (2024)
• N.S.A. Nagar: Rs 150 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 126 per sq.ft, the total guideline value would be Rs 1,26,000. The stamp duty at 7% would be Rs 8,820, and the registration fee at 2% would be Rs 2,520, bringing the total fees to Rs 11,340. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for a more precise calculation based on your property details.

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

The Sub Registrar Office that covers M.G.R.Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the buyer must pay stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2012 to Rs 84 per sq.ft in 2017, then increased to Rs 126 per sq.ft in both 2023 and 2024, with no change between these two years.

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

M.G.R.Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in M.G.R.Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for M.G.R.Street?

The Sriperumpudur Sub Registrar Office handles property registrations for M.G.R.Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.