Guideline Value for M.P.R Nagar

M.P.R Nagar guideline value

The current guideline value of M.P.R Nagar, located in Padappai village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of M.P.R Nagar has changed

The guideline value for M.P.R Nagar has seen several revisions over the years. The 2012 revision set the rate at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 990 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value of M.P.R Nagar is above this median.

• M.R.V.Nagar: Rs 830 per sq.ft (2024)
• Munusamy Nagar: Rs 830 per sq.ft (2024)
• Murugathamman Nagar: Rs 830 per sq.ft (2024)
• Murugathamman Nagar phase-II: Rs 830 per sq.ft (2024)
• Murugathamman Pettai: Rs 990 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in M.P.R Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty, calculated at 7%, would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800. Together, these fees would total Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.P.R Nagar?

The Sub Registrar Office that covers M.P.R Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction process.

When registering a property, the guideline value will be used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial implications associated with the transaction. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of M.P.R Nagar?

The current guideline value of M.P.R Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the stamp duty and registration fees for property in M.P.R Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 9,90,000. The stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles registrations for M.P.R Nagar?

The Padappai Sub Registrar Office handles registrations for M.P.R Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value determined?

The guideline value is determined based on various revisions by the Registration Department, reflecting changes in property values over time, and is used to calculate stamp duty and registration fees during property transactions.