Guideline Value for MGR Street, Gandhi Nagar Extn

MGR Street, Gandhi Nagar Extn guideline value

The current guideline value for MGR Street, Gandhi Nagar Extn is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of MGR Street, Gandhi Nagar Extn has changed

The guideline value for MGR Street, Gandhi Nagar Extn has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for MGR Street in the revisions from 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, indicating that the 2024 guideline value for MGR Street, Gandhi Nagar Extn is below this median.

• M.G.R. Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• M.G.R. Street / Sathya Nagar: Rs 1,980 per sq.ft (2024)
• M.G.R. Street / Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• MG Thennavan Street, Poncabriel Nagar: Rs 1,980 per sq.ft (2024)
• M.G.R.Salai: Rs 1,980 per sq.ft (2024)
• MGR Road, Nagelkeni: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in MGR Street, Gandhi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, calculated at 7%, would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers MGR Street, Gandhi Nagar Extn?

The Sub Registrar Office that covers MGR Street, Gandhi Nagar Extn is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 plays a crucial role during the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and the overall transaction process. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of MGR Street, Gandhi Nagar Extn?

The current guideline value of MGR Street, Gandhi Nagar Extn is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64%. The value was Rs 1,800 per sq.ft in 2023.

What is the land classification for MGR Street, Gandhi Nagar Extn?

MGR Street, Gandhi Nagar Extn is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for MGR Street, Gandhi Nagar Extn?

The Sub Registrar Office for MGR Street, Gandhi Nagar Extn is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for property in MGR Street, Gandhi Nagar Extn?

The stamp duty for property in MGR Street, Gandhi Nagar Extn is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a stamp duty of Rs 1,38,600.