Guideline Value for MGR Nagar

MGR Nagar guideline value

The current guideline value of MGR Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 1,760 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of MGR Nagar has changed

The guideline value for MGR Nagar has undergone several revisions over the years. In 2003, the value was Rs 256 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following that, the value saw a significant rise to Rs 1,072 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2023. The most recent revision in 2024 brought the value to Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

There are years where the register has no figure for this street, specifically in 2002 and 2012. Overall, from 2003 to 2024, the guideline value has increased by 588%, reflecting the changes in the area over time.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, positioning MGR Nagar's 2024 figure below this median.

• M.G.R.Nagar 2nd Street: Rs 2,350 per sq.ft (2024)
• M.G.R.Nagar 3rd Street: Rs 2,350 per sq.ft (2024)
• M.G.R. Ist Cross Street: Rs 2,350 per sq.ft (2024)
• M.G.R. 3rd Cross Street: Rs 2,350 per sq.ft (2024)
• M.G.R.Nagar Ist Street: Rs 2,350 per sq.ft (2024)
• M.G.R.2nd Cross Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in MGR Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty, calculated at 7%, would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. The total cost for stamp duty and registration fees together would be Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers MGR Nagar?

The MGR Nagar area falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Anakaputhur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

This ensures that the transaction is recorded accurately and legally, reflecting the value of the property as per the government's assessment. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of MGR Nagar?

The current guideline value of MGR Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 256 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 588% over this period.

What is the registration office for MGR Nagar?

The Pammal Sub Registrar Office covers MGR Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

What is the land classification for MGR Nagar?

MGR Nagar is classified under Residential Class II Type - I, indicating its use for residential purposes.