Guideline Value for M.G.R.Street

M.G.R.Street guideline value

The current guideline value of M.G.R.Street in Adayar village, under the Adayar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - III land classification.

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

Over the years, the guideline value of M.G.R.Street has seen several revisions. The earliest recorded revision is from 2007, where the guideline value was Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 100%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, which was a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, reflecting an increase of 10% from the previous year.

It is important to note that there are no figures available for M.G.R.Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. M.G.R.Street's 2024 figure is below this median.

• Murugappa Road: Rs 11,000 per sq.ft (2024)
• Mannappan Street: Rs 3,300 per sq.ft (2024)
• Muthiyalu Naidu: Rs 6,100 per sq.ft (2024)
• Muthiyalu Raja Street: Rs 5,500 per sq.ft (2024)
• Naidu 1st Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu 1st Street: Rs 6,100 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our 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 Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adayar. It is used to determine the amount of stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. 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 3,300 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 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 120% over the years.

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

M.G.R.Street is classified under Residential Class IV Type - III.

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

For a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees would be Rs 2,97,000.

Which office handles the registration for M.G.R.Street?

The Adayar Sub Registrar Office handles the registration for M.G.R.Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.