Guideline Value for MGR Road, Nagelkeni

MGR Road, Nagelkeni guideline value

The current guideline value of MGR Road, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of MGR Road, Nagelkeni has changed

The guideline value for MGR Road, Nagelkeni has seen several revisions over the years. The earliest recorded revision is from 2017, which set the value at Rs 1,206 per sq.ft. This was followed by a significant increase to Rs 1,800 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for MGR Road, Nagelkeni. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing MGR Road, Nagelkeni's 2024 figure below this median.

• M.G.R.Salai: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 7th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 6th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 5th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 4th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 3rd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in MGR Road, Nagelkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total cost of Rs 1,78,200. 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers MGR Road, Nagelkeni?

The Sub Registrar Office that covers MGR Road, Nagelkeni is 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 Pammal

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value as it influences the overall cost of the transaction. Buyers should ensure that they are prepared for these costs when considering a purchase.

Frequently asked questions

What is the current guideline value of MGR Road, Nagelkeni?

The current guideline value of MGR Road, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets with the same guideline value in Pammal?

Other streets in Pammal with the same guideline value of Rs 1,980 per sq.ft include M.G.R.Salai, M.G.R Nagar (7th, 6th, 5th, 4th, and 3rd Streets).

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated on properties in Pammal?

Stamp duty in Pammal is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically set at 7% of the guideline value.