Guideline Value for MGR Street

MGR Street guideline value

The current guideline value of MGR Street in Padoor village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of MGR Street has changed

Over the years, the guideline value of MGR Street has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2023 revision, where it also stood at Rs 150 per sq.ft. The 2017 revision marked a significant increase to Rs 100 per sq.ft, representing a 50% increase from the previous figure. Notably, there are no recorded figures for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 50%. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained stable, with no change observed during this period.

Guideline values in Padoor

Padoor village has a total of 22 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,700 per sq.ft. The median guideline value for these streets is Rs 705 per sq.ft, placing MGR Street's current value below this median.

• Madha Koil Street: Rs 150 per sq.ft (2024)
• Poonnamallee TharSalai: Rs 200 per sq.ft (2024)
• P.V.K Street: Rs 200 per sq.ft (2024)
• Indra Street: Rs 200 per sq.ft (2024)
• Bypass Road: Rs 200 per sq.ft (2024)
• Breeze county: Rs 600 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 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MGR Street?

The MGR Street falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Padoor. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered the baseline for calculating the applicable fees. Buyers must ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of MGR Street?

The current guideline value of MGR Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since the 2012 revision, with a previous increase to Rs 100 per sq.ft in 2017. There are no recorded figures for the years 2002, 2003, and 2007.

What is the classification of MGR Street?

MGR Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the registration office for MGR Street?

The registration office covering MGR Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Padoor?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,50,000 would incur a stamp duty of Rs 10,500 at a rate of 7%.