Guideline Value for MGR street

MGR street guideline value

The current guideline value of MGR street in Pennaloor village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of MGR street has changed

The guideline value for MGR street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the 2017 revision where it was reduced to Rs 134 per sq.ft. Subsequently, the 2023 revision brought the value back to Rs 200 per sq.ft, maintaining the same figure in the 2024 revision, resulting in a 0% change from 2023 to 2024. Notably, there were no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 marked a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained constant with a 0% change.

Guideline values in Pennaloor

Pennaloor village features 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,200 per sq.ft. The median value is Rs 200 per sq.ft, which aligns with the 2024 figure for MGR street.

• M.G.R Nagar: Rs 100 per sq.ft (2024)
• National Highway: Rs 1,200 per sq.ft (2024)
• Nehru Street: Rs 100 per sq.ft (2024)
• Kundrathur Avenue: Rs 400 per sq.ft (2024)
• Kulakkarai Street: Rs 100 per sq.ft (2024)
• Pallikuda Street: Rs 200 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 be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MGR street?

The MGR street is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Pennaloor. It serves as a benchmark for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers should be aware that the guideline value is used to determine the official value of the property for these purposes.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. This value is particularly significant in areas like Pennaloor, where various streets have differing guideline values.

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 has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase of 49% from 2017 to 2023. However, there were no figures available for the years 2002, 2003, and 2007.

What are the other streets in Pennaloor and their guideline values?

Other streets in Pennaloor include M.G.R Nagar at Rs 100 per sq.ft, National Highway at Rs 1,200 per sq.ft, Nehru Street at Rs 100 per sq.ft, Kundrathur Avenue at Rs 400 per sq.ft, Kulakkarai Street at Rs 100 per sq.ft, and Pallikuda Street at Rs 200 per sq.ft.

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

The Sub Registrar Office covering MGR street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

The stamp duty for properties in MGR street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty would be Rs 14,000 based on the current guideline value.