Guideline Value

Corporate

Guideline Value for M.R. Nagar 1st Main Road

₹2500/sq.ft.

The guideline value for M.r. Nagar 1st Main Road in Erukancherry village (Madhavaram SRO, Chennai zone) is Rs 2500 per sq.ft, effective 1 July 2024. It was Rs 2300 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Erukancherry

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2500 /sq.ft.
From 1-4-2023 ₹2300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1541 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on M.r. Nagar 1st Main Road

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M.R. Nagar 1st Main Road guideline value

The current guideline value of M.R. Nagar 1st Main Road is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of M.R. Nagar 1st Main Road has changed

The guideline value for M.R. Nagar 1st Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the latest 2024 revision has set it at Rs 2,500 per sq.ft.

From 2012 to 2017, there was a decrease of 23%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 represents a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 25%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the 2024 figure for M.R. Nagar 1st Main Road.

Stamp duty and registration fee for property in M.R. Nagar 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the 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, totaling Rs 2,25,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.R. Nagar 1st Main Road?

The M.R. Nagar 1st Main Road falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the transaction is recorded at a value recognized by the government.

When you buy or sell property, the guideline value serves as a benchmark. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of M.R. Nagar 1st Main Road?

The current guideline value of M.R. Nagar 1st Main Road 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 seen several revisions, with the latest increase from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, marking a 9% increase. Overall, from 2012 to 2024, the value has increased by 25%.

What is the land classification for M.R. Nagar 1st Main Road?

M.R. Nagar 1st Main Road is classified as Residential Class III Type - I, which indicates its use for residential purposes.

Where can I find the Sub Registrar Office for M.R. Nagar 1st Main Road?

The Sub Registrar Office covering M.R. Nagar 1st Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties on M.R. Nagar 1st Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,75,000.