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Guideline Value

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Guideline Value for MRC NAGAR SOUTH BEACH AVENUE (1ST & 2ND STREET)

₹22000/sq.ft.

The guideline value for Mrc Nagar South Beach Avenue (1st & 2nd Street) 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 N/A
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 South Beach Avenue (1st & 2nd Street)

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Mrc Nagar South Beach Avenue (1st & 2nd Street) guideline value

The current guideline value of Mrc Nagar South Beach Avenue (1st & 2nd Street) is Rs 22,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - II.

How the guideline value of Mrc Nagar South Beach Avenue (1st & 2nd Street) has changed

The guideline value for Mrc Nagar South Beach Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 20,000 per sq.ft, which then decreased to Rs 13,400 per sq.ft in 2017. Following this, the value significantly increased to Rs 20,000 per sq.ft in 2023, and then rose again to Rs 22,000 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value surged by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Mrc Nagar South Beach Avenue's 2024 figure is above this median.

Stamp duty and registration fee for property in Mrc Nagar South Beach Avenue (1st & 2nd Street)

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

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mrc Nagar South Beach Avenue (1st & 2nd Street)?

The Mrc Nagar South Beach Avenue (1st & 2nd Street) 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 further assistance.

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

The guideline value is a crucial factor during property registration in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer is required to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mrc Nagar South Beach Avenue?

The current guideline value of Mrc Nagar South Beach Avenue (1st & 2nd Street) 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 from Rs 20,000 per sq.ft in 2023 to Rs 22,000 per sq.ft in 2024, marking a 10% increase. It was Rs 13,400 per sq.ft in 2017 and Rs 20,000 per sq.ft in 2012.

What is the land classification of Mrc Nagar South Beach Avenue?

Mrc Nagar South Beach Avenue is classified as Residential Special Type - II under the Mylapore SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline of Rs 22,000 per sq.ft, the total stamp duty at 7% would be Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000. The total fees would amount to Rs 19,80,000.

Which Sub Registrar Office covers Mrc Nagar South Beach Avenue?

The Mrc Nagar South Beach Avenue falls under the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.