Guideline Value for MGR Street (Ramapuram)

MGR Street (Ramapuram) guideline value

The current guideline value of MGR Street (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of MGR Street (Ramapuram) has changed

In the 2012 revision, the guideline value was Rs 3,300 per sq.ft. This value decreased to Rs 2,211 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 3,300 per sq.ft in the 2023 revision, and it further rose to Rs 3,600 per sq.ft in the 2024 revision, which is an increase of 9% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The increase from 2017 to 2023 was 49%, reflecting a substantial rise over that period.

Guideline values in Ambattur

There are 448 streets in Ambattur under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, which matches the current guideline value for MGR Street (Ramapuram).

• MGR Puram: Rs 3,600 per sq.ft (2024)
• Moogambigai complex: Rs 2,600 per sq.ft (2024)
• Menan Street: Rs 4,000 per sq.ft (2024)
• Mounasamy madam Street: Rs 5,100 per sq.ft (2024)
• M.T.H Road: Rs 6,500 per sq.ft (2024)
• M.T.H.Road(Segment)(Police Station to Indl. Estate): Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in MGR Street (Ramapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total cost for these fees to Rs 3,24,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers MGR Street (Ramapuram)?

The Sub Registrar Office that covers MGR Street (Ramapuram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. This means that buyers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of MGR Street (Ramapuram)?

The current guideline value of MGR Street (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,600 per sq.ft in 2024, an increase of 9%. It was Rs 2,211 per sq.ft in 2017, which increased by 49% to Rs 3,300 per sq.ft in 2023.

What is the land classification for MGR Street (Ramapuram)?

The land classification for MGR Street (Ramapuram) is Residential Class I Type - I.

Where can I find the Sub Registrar Office for MGR Street (Ramapuram)?

The Sub Registrar Office for MGR Street (Ramapuram) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties in MGR Street (Ramapuram)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000, leading to a stamp duty of Rs 2,52,000.