Guideline Value for M.G.R.Street

M.G.R.Street guideline value

The current guideline value of M.G.R.Street in Irunkattukottai village is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class IV Type - I.

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

The guideline value of M.G.R.Street has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was reduced to Rs 167 per sq.ft, marking a decrease of 33% from the previous figure. Following this, the value increased by 50% to Rs 250 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the 2023 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for M.G.R.Street. Overall, the guideline value from 2012 to 2024 has seen no change, remaining at Rs 250 per sq.ft.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing M.G.R.Street's 2024 figure below that median.

• Meenakshi Amman Nagar: Rs 600 per sq.ft (2024)
• Mecca Nagar: Rs 600 per sq.ft (2024)
• Marvel Shire Nagar: Rs 800 per sq.ft (2024)
• Nehru Street: Rs 600 per sq.ft (2024)
• Nemili Park: Rs 800 per sq.ft (2024)
• Madhavan Nagar: Rs 400 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 rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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

The M.G.R.Street is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Irunkattukottai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property should be registered. This process aids in maintaining transparency and fairness in property transactions.

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a drop to Rs 167 per sq.ft in 2017 before rising back to Rs 250 per sq.ft in 2023.

What is the registration fee for property in M.G.R.Street?

The registration fee is 2% of the guideline value. For a property valued at Rs 2,50,000, the registration fee would be Rs 5,000.

Which office handles property registrations in Irunkattukottai?

The Sriperumpudur Sub Registrar Office handles property registrations in Irunkattukottai, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What are the other streets in Irunkattukottai with guideline values?

Other streets in Irunkattukottai include Meenakshi Amman Nagar, Mecca Nagar, Marvel Shire Nagar, Nehru Street, Nemili Park, and Madhavan Nagar, with values ranging from Rs 400 to Rs 800 per sq.ft in 2024.