Guideline Value for M.P.P.R Avenue 2nd Cross Street

M.P.P.R Avenue 2nd Cross Street guideline value

The current guideline value of M.P.P.R Avenue 2nd 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 2nd Cross Street has changed

The guideline value for M.P.P.R Avenue 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 101 per sq.ft, which increased to Rs 112 per sq.ft in 2003, marking an 11% rise. The value then experienced a substantial increase to Rs 300 per sq.ft in 2007, reflecting a 168% change. Following this, the value rose dramatically to Rs 2,250 per sq.ft in 2012, which was a 650% increase from the previous revision. However, it decreased to Rs 1,507 per sq.ft in 2017, a decline of 33%.

In the subsequent revisions, the guideline value increased to Rs 2,250 per sq.ft in 2023, and then to Rs 2,500 per sq.ft in 2024, representing an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 2,375%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing M.P.P.R Avenue 2nd Cross Street above the median at Rs 2,500 per sq.ft.

• M.P.P.R Avenue 1st 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 2nd 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 amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total charges 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 more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.P.P.R Avenue 2nd Cross Street?

The M.P.P.R Avenue 2nd 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 in the registration process when buying or selling property in Nerkundram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher amount. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.P.P.R Avenue 2nd Cross Street?

The current guideline value of M.P.P.R Avenue 2nd 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 changed significantly from Rs 101 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 2,375% over the years.

What is the land classification for M.P.P.R Avenue 2nd Cross Street?

The land classification for M.P.P.R Avenue 2nd Cross Street is Residential Class III Type - II.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property in Nerkundram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at 7%.