Guideline Value

Corporate

Guideline Value for MRC NAGAR 1ST CROSS LANE

₹22000/sq.ft.

The guideline value for Mrc Nagar 1st Cross Lane in Mylapore village (Mylapore SRO, Chennai zone) is Rs 22000 per sq.ft, effective 1 July 2024. It was Rs 20000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore

Village

Mylapore

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹22000 /sq.ft.
From 1-4-2023 ₹20000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹13400 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹20000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3430 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24640344
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mrc Nagar 1st Cross Lane

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Mrc Nagar 1st Cross Lane guideline value

The current guideline value of Mrc Nagar 1st Cross Lane is Rs 22,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Mrc Nagar 1st Cross Lane has changed

The guideline value for Mrc Nagar 1st Cross Lane has undergone several revisions over the years. In 2007, the value was Rs 3,430 per sq.ft. This increased significantly to Rs 20,000 per sq.ft in 2012, marking a rise of 483%. However, from 2012 to 2017, the value decreased to Rs 13,400 per sq.ft, a drop of 33%. The value then rose again to Rs 20,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 22,000 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 541%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, making the current value of Mrc Nagar 1st Cross Lane above the median.

Stamp duty and registration fee for property in Mrc Nagar 1st Cross Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 22,000 per sq.ft, the total guideline value amounts to Rs 2,20,00,000. The stamp duty at 7% would be Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, bringing the total to Rs 19,80,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mrc Nagar 1st Cross Lane?

The Mrc Nagar 1st Cross Lane falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value is a critical factor during property registration in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that this value influences the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, preventing underreporting of property prices. This regulation helps maintain transparency in property dealings within the Mylapore SRO.

Frequently asked questions

What is the current guideline value of Mrc Nagar 1st Cross Lane?

The current guideline value of Mrc Nagar 1st Cross Lane is Rs 22,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 3,430 per sq.ft in 2007 to Rs 22,000 per sq.ft in 2024, reflecting an overall increase of 541% over the years.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, with Mrc Nagar 1st Cross Lane's current value being above this median.

What are the stamp duty rates for properties in Mrc Nagar 1st Cross Lane?

The stamp duty for properties in Mrc Nagar 1st Cross Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mrc Nagar 1st Cross Lane located?

The Mrc Nagar 1st Cross Lane is covered by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.