Guideline Value for M.P.P.R Avenue 1st Cross Street

M.P.P.R Avenue 1st Cross Street guideline value

The current guideline value of M.P.P.R Avenue 1st Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of M.P.P.R Avenue 1st Cross Street has changed

The guideline value for M.P.P.R Avenue 1st Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 101 per sq.ft. This increased to Rs 112 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The value then saw a substantial increase to Rs 2,250 per sq.ft in 2012. However, it dropped to Rs 1,507 per sq.ft in 2017. The 2023 revision set the value at Rs 2,250 per sq.ft, and the latest revision in 2024 raised it to Rs 2,500 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision shows an increase of 11%. Notably, the value rose dramatically from Rs 300 per sq.ft in 2007 to Rs 2,250 per sq.ft in 2012, marking a change of 650%. Overall, from 2002 to 2024, the guideline value has increased by 2,375%.

Guideline values in Nerkundram

Nerkundram has 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as of 2024. The median guideline value in the village is Rs 2,200 per sq.ft, placing M.P.P.R Avenue 1st Cross Street above this median.

• M.P.P.R Avenue 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• M.P.P.R Avenue Main Road: Rs 2,500 per sq.ft (2024)
• Moogambigai Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in M.P.P.R Avenue 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost for these fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.P.P.R Avenue 1st Cross Street?

The M.P.P.R Avenue 1st Cross Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the fees, ensuring that they are based on the official value set by the authorities. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of M.P.P.R Avenue 1st Cross Street?

The current guideline value of M.P.P.R Avenue 1st Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 101 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 2,375%.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,25,000.

Which office handles registrations for M.P.P.R Avenue 1st Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for M.P.P.R Avenue 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for M.P.P.R Avenue 1st Cross Street?

The land classification for M.P.P.R Avenue 1st Cross Street is Residential Class III Type - II.