Guideline Value

Corporate

Guideline Value for M.R. Nagar

₹1100/sq.ft.

The guideline value for M.r. Nagar in Puzhal village (Redhills SRO, Chennai zone) is Rs 1100 per sq.ft, effective 1 July 2024. It was Rs 1000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Puzhal

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1100 /sq.ft.
From 1-4-2023 ₹1000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹120 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹1194 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[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]

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M.R. Nagar guideline value

The current guideline value of M.R. Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,100 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.R. Nagar has changed

The guideline value for M.R. Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 1,194 per sq.ft. This figure decreased significantly to Rs 120 per sq.ft in 2003. The value then increased substantially to Rs 300 per sq.ft in 2007, followed by a further rise to Rs 800 per sq.ft in 2012. However, it dropped to Rs 536 per sq.ft in 2017 before reaching Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were significant. From 2017 to 2023, there was an 87% increase, while the period from 2012 to 2017 saw a decrease of 33%. The rise from 2007 to 2012 was notable at 167%, and from 2003 to 2007, it increased by 150%. However, there was a drastic drop of 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has decreased by 8%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing M.R. Nagar's 2024 figure slightly below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for stamp duty and registration to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers M.R. Nagar?

The M.R. Nagar area is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit this find your SRO page.

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

The guideline value plays a crucial role in property transactions in Puzhal. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct amount in taxes based on the property's assessed value.

Frequently asked questions

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

The current guideline value of M.R. Nagar is Rs 1,100 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 1,194 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Puzhal and their guideline values?

Other streets in Puzhal include M.M. School Street at Rs 1,100 per sq.ft, and several Mettu Streets ranging from Rs 1,650 per sq.ft.

What is the stamp duty rate for property in M.R. Nagar?

The stamp duty rate for property transactions in M.R. Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for M.R. Nagar?

The Sub Registrar Office covering M.R. Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.