Guideline Value for M.G.RATHINAM CHETTIAR STREET

M.G.Rathinam Chettiar Street guideline value

The current guideline value of M.G.Rathinam Chettiar Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of M.G.Rathinam Chettiar Street has changed

The guideline value has undergone several revisions over the years. In 2003, the value was Rs 310 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007. The value then rose to Rs 1,500 per sq.ft in 2012, but saw a decrease to Rs 1,005 per sq.ft in 2017. Following this, the value jumped to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft as per the 2024 revision, marking a 13% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 448%. Notably, the register has no figure for this street in 2002.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which is equal to the current guideline value of M.G.Rathinam Chettiar Street.

• M.G.R.Road: Rs 2,800 per sq.ft (2024)
• M.G.R.Street: Rs 2,800 per sq.ft (2024)
• Meenakshi Farm Road & Bay Avenue: Rs 2,800 per sq.ft (2024)
• Mayana Salai: Rs 2,200 per sq.ft (2024)
• Mottaisami Garden: Rs 1,100 per sq.ft (2024)
• Manthoppu Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.Rathinam Chettiar Street

For a property of 1,000 sq.ft at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers M.G.Rathinam Chettiar Street?

The M.G.Rathinam Chettiar Street falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Uthandi, as it determines the minimum value at which properties can be registered. It is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately with the government, helping to maintain transparency in real estate dealings. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of M.G.Rathinam Chettiar Street?

The current guideline value of M.G.Rathinam Chettiar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 310 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 448% over the years.

What is the stamp duty rate for properties in Uthandi?

The stamp duty rate for properties in Uthandi is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the other streets in Uthandi with guideline values?

Other streets in Uthandi include M.G.R.Road, M.G.R.Street, Meenakshi Farm Road & Bay Avenue, Mayana Salai, Mottaisami Garden, and Manthoppu Salai, with varying guideline values.