Guideline Value for MGR STREET (WARD-21)

Mgr Street (Ward-21) guideline value

The current guideline value of Mgr Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mgr Street (Ward-21) has changed

Over the years, the guideline value of Mgr Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The 2023 revision then increased the value to Rs 600 per sq.ft, followed by the latest revision in 2024, which raised it to Rs 660 per sq.ft, reflecting a change of 10% from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft as of 2024. The median guideline value in Potheri is Rs 770 per sq.ft, making the current value of Mgr Street (Ward-21) below this median.

• Moogambigai Nagar (Ward-21): Rs 660 per sq.ft (2024)
• Mooppanar Street (Ward-20): Rs 880 per sq.ft (2024)
• Muthulinga Devar Street (Ward-21): Rs 660 per sq.ft (2024)
• Maragatham Nagar Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Nandhakumar Street, Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Narasimman Nagar (Ward-21): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mgr Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total fees Rs 59,400. It is important to note that the stamp 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 Street (Ward-21)?

The Sub Registrar Office that covers Mgr Street (Ward-21) 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 assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Potheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers must consider this value to comply with legal requirements and avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mgr Street (Ward-21)?

The current guideline value of Mgr Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Mgr Street (Ward-21)?

Mgr Street (Ward-21) is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Mgr Street (Ward-21)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the stamp duty would be Rs 46,200.