Guideline Value for M.G.RAMACHANDRA ROAD

M.G.Ramachandra Road guideline value

The current guideline value of M.G.Ramachandra Road is Rs 12,660 per sq.ft. This road is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of M.G.Ramachandra Road has changed

The guideline value for M.G.Ramachandra Road has seen significant changes over the years. In 2002, the value was Rs 2,022 per sq.ft, which increased to Rs 2,237 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 3,000 per sq.ft, reflecting a 34% increase. The value then experienced a remarkable jump to Rs 11,500 per sq.ft in 2012, representing a 283% increase. However, it decreased to Rs 7,705 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 11,500 per sq.ft in 2023, before reaching the current figure of Rs 12,660 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 526%. The register has no figure for the years not mentioned in the revisions above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing M.G.Ramachandra Road's current value above this median.

• Mettu Street: Rs 11,000 per sq.ft (2024)
• M.G.R. Street: Rs 11,000 per sq.ft (2024)
• Meenatchi Nagar: Rs 7,150 per sq.ft (2024)
• Mayanam Street: Rs 3,520 per sq.ft (2024)
• Marutheeswarar Nagar: Rs 3,520 per sq.ft (2024)
• Mandalam Street (Road): Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.Ramachandra Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value amounts to Rs 1,26,60,000. The stamp duty at 7% would be Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, bringing the total to Rs 11,39,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.Ramachandra Road?

The Sub Registrar Office that covers M.G.Ramachandra Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Thiruvanmiyur, the guideline value is crucial as it determines the amount of stamp duty and registration fees payable. The guideline value is set by the government and reflects the minimum value at which a property can be registered.

It is important to note that the stamp duty is charged based on the higher of the guideline value or the actual sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.G.Ramachandra Road?

The current guideline value of M.G.Ramachandra Road is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 2,022 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, marking an overall increase of 526% over the years.

What is the registration office for M.G.Ramachandra Road?

The registration office for M.G.Ramachandra Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties on M.G.Ramachandra Road?

Stamp duty for properties on M.G.Ramachandra Road is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.

What is the land classification for M.G.Ramachandra Road?

The land classification for M.G.Ramachandra Road is Commercial Class I Type - I, indicating its suitability for commercial activities.