Guideline Value for M.L.R Street

M.L.R Street guideline value

The current guideline value of M.L.R Street in Kavulbazaar village is Rs 825 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office and is classified as Residential Class II Type - I.

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

The guideline value of M.L.R Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 502 per sq.ft. This increased to Rs 750 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the value increase to Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for M.L.R Street. Overall, from 2017 to 2024, the guideline value has increased by 64% from Rs 502 per sq.ft to Rs 825 per sq.ft.

Guideline values in Kavulbazaar

Kavulbazaar village has 44 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, which is the same as the guideline value for M.L.R Street.

• MGR Street: Rs 825 per sq.ft (2024)
• Moovar Nagar: Rs 825 per sq.ft (2024)
• Mariamman Koil Street: Rs 825 per sq.ft (2024)
• Napc Sudarma: Rs 1,100 per sq.ft (2024)
• Manivannan Nagar: Rs 825 per sq.ft (2024)
• Neduchalai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.L.R Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. 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.L.R Street?

The M.L.R Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration as it determines the stamp duty and registration fees payable. Buyers and sellers must consider this value to ensure compliance with legal requirements and to avoid penalties.

When a property is sold, the guideline value serves as a benchmark for the transaction, influencing the overall costs involved in the sale process. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for M.L.R Street?

The current guideline value for M.L.R Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 502 per sq.ft in 2017 to Rs 825 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for a property in M.L.R Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250.

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

The Pammal Sub Registrar Office covers M.L.R Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring compliance with legal requirements and influencing the overall costs involved.