Guideline Value for MGR Street

MGR Street guideline value

The current guideline value of MGR Street in Malaipattu village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram 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 remained consistent at Rs 200 per sq.ft from the 2023 revision through to the 2024 revision, showing no change. Prior to this, the 2017 revision set the value at Rs 134 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure.

In the earlier revisions, the 2012 guideline value was also Rs 200 per sq.ft, which indicates a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007, indicating that there were no recorded values for MGR Street in those years. Overall, from 2012 to 2024, the guideline value has seen no change.

Guideline values in Malaipattu

In Malaipattu, there are 36 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,181 per sq.ft. The median value is Rs 200 per sq.ft, which aligns with the guideline value of MGR Street.

• M.P Nagar: Rs 200 per sq.ft (2024)
• Lakshmi Land: Rs 150 per sq.ft (2024)
• Kullakarai Street: Rs 150 per sq.ft (2024)
• Krishnamoorthy Salai: Rs 200 per sq.ft (2024)
• Pavazhathamman Street: Rs 200 per sq.ft (2024)
• Pazhavathamman Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in MGR Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers MGR Street?

The Sub Registrar Office that covers MGR Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Malaipattu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of MGR Street?

The current guideline value of MGR Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for MGR Street has remained at Rs 200 per sq.ft from 2023 to 2024. Prior to that, it was Rs 134 per sq.ft in 2017, and Rs 200 per sq.ft in 2012.

What are the other streets in Malaipattu with their guideline values?

Other streets in Malaipattu include M.P Nagar and Krishnamoorthy Salai at Rs 200 per sq.ft, Lakshmi Land and Kullakarai Street at Rs 150 per sq.ft, and Pazhavathamman Nagar at Rs 300 per sq.ft.

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 the sale price, whichever is higher.

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

The Sub Registrar Office for MGR Street is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.