Guideline Value for MGR Street

MGR Street guideline value

The current guideline value for MGR Street in Manimangalam A village under the Padappai SRO is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of MGR Street has changed

In the 2017 revision, the guideline value for MGR Street was Rs 536 per sq.ft. This figure increased to Rs 800 per sq.ft in the 2023 revision, marking a significant change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 880 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for MGR Street for the years 2002, 2003, 2007, and 2012.

Guideline values in Manimangalam A

In total, there are 112 streets in Manimangalam A under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the 2024 guideline value for MGR Street.

• Meenambal Street: Rs 550 per sq.ft (2024)
• M.R.K. Nagar: Rs 880 per sq.ft (2024)
• MR Nagar: Rs 770 per sq.ft (2024)
• M.S. Subbulakshmi Nagar Annex: Rs 1,430 per sq.ft (2024)
• M.S.Subhulakshmi Nagar: Rs 1,430 per sq.ft (2024)
• Mudichur Manimangalam Road: Rs 880 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600. Together, the total cost for these fees would be Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers MGR Street?

The Sub Registrar Office that covers MGR Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. It is essential for both parties to be 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 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value for MGR Street has increased by 64%, rising from Rs 536 per sq.ft to Rs 880 per sq.ft.

What are the other streets in Manimangalam A with similar guideline values?

Other streets in Manimangalam A include M.R.K. Nagar and Mudichur Manimangalam Road, both of which also have a guideline value of Rs 880 per sq.ft in 2024.

Where can I find the registration office for MGR Street?

The registration office for MGR Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in MGR Street?

The stamp duty for properties in MGR Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 880 per sq.ft would incur a total stamp duty of Rs 61,600.