Guideline Value for MRB Nagar

MRB Nagar guideline value

The current guideline value of MRB Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This locality is situated in Maakaanyam village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of MRB Nagar has changed

Over the years, the guideline value for MRB Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a significant rise of 300%. However, from 2012 to 2017, the value decreased to Rs 134 per sq.ft, which is a drop of 33%. The value then saw a substantial increase to Rs 200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

For the overall period from 2007 to 2024, the guideline value has increased by 300%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for MRB Nagar is below this median.

• Mettu Street: Rs 150 per sq.ft (2024)
• Navadeepam nagar: Rs 300 per sq.ft (2024)
• Padasalai Street: Rs 150 per sq.ft (2024)
• Kupera Nagar: Rs 200 per sq.ft (2024)
• Kalyana Perumal Nagar‍‍ I: Rs 400 per sq.ft (2024)
• Kalyana Perumal Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in MRB Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MRB Nagar?

MRB Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Maakaanyam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use it to calculate applicable duties and fees.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of MRB Nagar?

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

How has the guideline value of MRB Nagar changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of MRB Nagar?

MRB Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sriperumpudur Sub Registrar Office?

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

How is stamp duty calculated for properties in MRB Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7%.