Guideline Value for MRP Green Village

MRP Green Village guideline value

The current guideline value of MRP Green Village, located in Somangalam village under the Sriperumpudur SRO, is Rs 747 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Mixed Type - III.

How the guideline value of MRP Green Village has changed

In the 2017 revision, the guideline value was Rs 500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 747 per sq.ft. With the 2024 revision, the guideline value increased to Rs 747 per sq.ft, resulting in a total increase of 49% from the 2017 figure to the 2024 figure.

The revisions for the years 2002, 2003, 2007, and 2012 do not have any figures recorded for MRP Green Village in the register. Therefore, the only relevant revisions are from 2017 to 2024, showing a significant change in the guideline value.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for MRP Green Village is above this median, indicating a higher valuation compared to many other streets in the area.

• Mrp Green Homes Phase-III: Rs 700 per sq.ft (2024)
• Mrp Green Homes Phase-II: Rs 700 per sq.ft (2024)
• Mrp Green Homes: Rs 747 per sq.ft (2024)
• MR Nagar: Rs 200 per sq.ft (2024)
• Manikandapuri: Rs 200 per sq.ft (2024)
• Kundrathur main road: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in MRP Green Village

For a 1,000 sq.ft plot at the current guideline value of Rs 747 per sq.ft, the total guideline value amounts to Rs 7,47,000. The stamp duty charged at 7% would be Rs 52,290, and the registration fee at 2% would be Rs 14,940, leading to a total of Rs 67,230. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers MRP Green Village?

The Sub Registrar Office that covers MRP Green Village is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Somangalam, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is sold, the guideline value is used as a benchmark for calculating the applicable taxes and fees. It is essential for both parties to be aware of the current guideline value to avoid any disputes or misunderstandings during the registration of the property.

Frequently asked questions

What is the current guideline value of MRP Green Village?

The current guideline value of MRP Green Village is Rs 747 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 747 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 500 per sq.ft in 2017 to Rs 747 per sq.ft in 2024.

What is the land classification for MRP Green Village?

The land classification for MRP Green Village is Mixed Type - III, which indicates the nature of land use in the area.

What are the stamp duty and registration fees for properties in MRP Green Village?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 67,230.

Which Sub Registrar Office covers MRP Green Village?

The Sriperumpudur Sub Registrar Office covers MRP Green Village, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.