Guideline Value for MGR Street

MGR Street guideline value

The current guideline value of MGR Street in Erandankattalai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of MGR Street has changed

The guideline value for MGR Street has changed significantly over the years. In the 2017 revision, the value was Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of MGR Street.

• Madha Nagar: Rs 1,100 per sq.ft (2024)
• Maansarovar Nagar Phase II: Rs 2,860 per sq.ft (2024)
• Maansarovar Nagar: Rs 4,270 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Kodhai Avenue: Rs 1,100 per sq.ft (2024)
• Perumal Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in MGR Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 accurate calculations.

Which Sub Registrar Office covers MGR Street?

The MGR Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erandankattalai. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of MGR Street?

The current guideline value of MGR Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the stamp duty rate for properties in MGR Street?

The stamp duty rate for properties in MGR Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How do I calculate the registration fees for a property in MGR Street?

To calculate the registration fees for a property, you can use the guideline value to determine the stamp duty and registration fee. The total fees can be calculated using the rates of 7% for stamp duty and 2% for registration fees.