Guideline Value for MGR NAGAR STREET

Mgr Nagar Street guideline value

The current guideline value of Mgr Nagar Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Tiruttani village, under the Thiruttani SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Mgr Nagar Street has changed

Looking at the revisions, the guideline value for Mgr Nagar Street has seen significant changes over the years. The 2017 revision set the value at Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision has further raised the guideline value to Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for Mgr Nagar Street for the years 2002, 2003, 2007, and 2012.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft. The median value among these streets is Rs 825 per sq.ft, which means that Mgr Nagar Street's 2024 guideline value is below this median.

• Mgr Nagar 8th Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 7th Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 6th Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 5th Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 4th Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 3rd Lane: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Mgr Nagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty, charged at 7%, would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for stamp duty and registration would be Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mgr Nagar Street?

The Sub Registrar Office that covers Mgr Nagar Street is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tiruttani. It is the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This value is determined by the government and is updated periodically to reflect changes in the real estate market.

When selling property, the guideline value serves as a reference point for both buyers and sellers. It helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. Buyers should be aware of the guideline value to understand their financial obligations during the purchase process.

Frequently asked questions

What is the current guideline value of Mgr Nagar Street?

The current guideline value of Mgr Nagar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024. The most recent change from 2023 to 2024 was a 10% increase.

Are there any years without a guideline value for Mgr Nagar Street?

Yes, the register has no figures for Mgr Nagar Street for the years 2002, 2003, 2007, and 2012.

What are the stamp duty and registration fees for properties in Mgr Nagar Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 69,300.

Which office handles property registrations for Mgr Nagar Street?

The Thiruttani Sub Registrar Office handles property registrations for Mgr Nagar Street, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.