Guideline Value for MGR SALAI (WARD -6)

Mgr Salai (Ward -6) guideline value

The current guideline value of Mgr Salai (Ward -6) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, and the land classification is Residential Special Type - I.

How the guideline value of Mgr Salai (Ward -6) has changed

The guideline value for Mgr Salai (Ward -6) has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, but it increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a 10% increase, indicating a significant fluctuation in the guideline value over the years.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Mgr Salai (Ward -6) above this median with its current rate of Rs 2,200 per sq.ft.

• Mettu Street (Ward -2): Rs 660 per sq.ft (2024)
• Mettu Street (Ward -19): Rs 660 per sq.ft (2024)
• Mettu Street (Ward -15): Rs 660 per sq.ft (2024)
• Mosqure Street (Ward -17): Rs 660 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• M.T.C. Nagar (Pa): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Mgr Salai (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mgr Salai (Ward -6)?

The Sub Registrar Office covering Mgr Salai (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mgr Salai (Ward -6)?

The current guideline value of Mgr Salai (Ward -6) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Mgr Salai (Ward -6)?

The land classification for Mgr Salai (Ward -6) is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Mgr Salai (Ward -6)?

The Sub Registrar Office for Mgr Salai (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.