Guideline Value for MGR NAGAR 7TH LANE

Mgr Nagar 7th Lane guideline value

The current guideline value of Mgr Nagar 7th Lane 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 7th Lane has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2023 revision, marking a change of 49%. The most recent 2024 revision has set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for Mgr Nagar 7th Lane. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO with a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft. The median value is Rs 825 per sq.ft, placing Mgr Nagar 7th Lane's value below this median.

• Mgr Nagar 8th 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 Street: 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 7th Lane

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mgr Nagar 7th Lane?

The Sub Registrar Office covering Mgr Nagar 7th Lane 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 is a crucial factor in the registration process when buying or selling property in Tiruttani. It is used to determine 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. The higher of the two values is taken into account for calculating the applicable duties and fees, ensuring that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of Mgr Nagar 7th Lane?

The current guideline value of Mgr Nagar 7th Lane is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in Mgr Nagar 7th Lane?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 69,300, based on the current guideline value of Rs 7,70,000.

Which office handles property registrations for Mgr Nagar 7th Lane?

The Thiruttani Sub Registrar Office handles property registrations for Mgr Nagar 7th Lane, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209.

What is the median guideline value for streets in Tiruttani?

The median guideline value for streets in Tiruttani is Rs 825 per sq.ft. Mgr Nagar 7th Lane's guideline value is below this median.