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 the 2024 revision. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

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

The guideline value for Mgr Salai 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 revision in 2024 has raised it further to Rs 2,200 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Mgr Salai's 2024 figure above this median.

• Mettu Street (Ward -2): Rs 440 per sq.ft (2024)
• Mettu Street (Ward -19): Rs 440 per sq.ft (2024)
• Mettu Street (Ward -15): Rs 440 per sq.ft (2024)
• Mosqure Street (Ward -17): Rs 550 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,320 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the 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 Salai (Ward -6)?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. The final sale price must meet or exceed this value to avoid any legal complications during the registration process.

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 the 2024 revision.

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 back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024. The register has no figure for this street in the years 2002, 2003, and 2007.

What is the median guideline value in Panangottur?

The median guideline value for streets in Panangottur is Rs 990 per sq.ft. Mgr Salai's current value is above this median.

What are the stamp duty and registration fees for properties in Mgr Salai?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. This office handles registrations for Mgr Salai (Ward -6).