Guideline Value for MRP Green Village

MRP Green Village guideline value

The current guideline value of MRP Green Village, located in Somangalam_B village under the Sriperumpudur SRO, is Rs 747 per sq.ft. This value is effective from the 2024 revision, which commenced on 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 set at Rs 500 per sq.ft. This figure remained unchanged in the subsequent revisions until 2023, where it was still Rs 747 per sq.ft. The 2024 revision also maintained the value at Rs 747 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%, as the value has not changed between 2023 and 2024.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing MRP Green Village's 2024 figure above this median.

• 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)
• Kulakkarai street: Rs 400 per sq.ft (2024)
• KR Garden Phase-II: Rs 400 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 at 7% would be Rs 52,290, and the registration fee at 2% would be Rs 14,940, bringing the total to Rs 67,230. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use our 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Somangalam_B, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to assess the applicable taxes. It is essential for both parties in a transaction to understand the guideline value to avoid any discrepancies and ensure a smooth registration process.

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, effective from the 2024 revision that started on 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%. It remained at Rs 500 per sq.ft in 2017 and was Rs 747 per sq.ft in both 2023 and 2024.

What is the land classification for MRP Green Village?

The land classification for MRP Green Village is Mixed Type - III. This classification can affect the usage and development of properties in the area.

Where can I find the registration office for MRP Green Village?

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

How is the stamp duty calculated for properties in MRP Green Village?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 747 per sq.ft, the total guideline value would be Rs 7,47,000, leading to a stamp duty of Rs 52,290.