Guideline Value for MGR Nagar

MGR Nagar guideline value

The current guideline value of MGR Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of MGR Nagar has changed

The guideline value for MGR Nagar has seen several revisions over the years. In 2007, the value was Rs 320 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 213% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The value jumped to Rs 1,000 per sq.ft again in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 244%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with the median value being Rs 1,100 per sq.ft. MGR Nagar's 2024 figure is equal to this median.

• Mettu Street: Rs 2,200 per sq.ft (2024)
• Meenatchi Nagar: Rs 1,650 per sq.ft (2024)
• Mohamed ali St lane-1: Rs 1,430 per sq.ft (2024)
• Mohamed ali St lane-2: Rs 1,430 per sq.ft (2024)
• Mohamed ali St lane-3: Rs 1,430 per sq.ft (2024)
• Mohamed ali street: Rs 1,430 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. 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 further calculations.

Which Sub Registrar Office covers MGR Nagar?

The Sub Registrar Office that covers MGR Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvallur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware of the current guideline value to ensure they are paying the correct fees during registration.

When a property is registered, the guideline value is considered as a baseline for calculating the stamp duty. The duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of MGR Nagar?

The current guideline value of MGR 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 several times, from Rs 320 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the registration fee for property in MGR Nagar?

The registration fee for property in MGR Nagar is calculated based on the guideline value, which is currently Rs 1,100 per sq.ft. For example, a 1,000 sq.ft plot would incur a registration fee of Rs 22,000.

Which Sub Registrar Office covers MGR Nagar?

The Sub Registrar Office covering MGR Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator.