Guideline Value for M G R Nagar Ward 8

M G R Nagar Ward 8 guideline value

The current guideline value for M G R Nagar Ward 8 is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Acharapakkam village and falls under the Acchirapakkam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of M G R Nagar Ward 8 has changed

Since the 2007 revision, the guideline value for M G R Nagar Ward 8 has undergone several changes. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 250 per sq.ft in 2012, marking a 25% rise. However, the value decreased to Rs 167 per sq.ft in 2017, representing a 33% drop. The guideline value then rose significantly to Rs 350 per sq.ft in both 2023 and 2024, showing a 110% increase from the 2017 figure, with no change from 2023 to 2024.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 75%.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. M G R Nagar Ward 8's 2024 figure of Rs 350 per sq.ft is below this median.

• M.K. Nagar: Rs 400 per sq.ft (2024)
• Markazhi Nagar: Rs 268 per sq.ft (2024)
• Nadu Street: Rs 350 per sq.ft (2024)
• National Highway Ward 7: Rs 400 per sq.ft (2024)
• National Highway Ward 9: Rs 400 per sq.ft (2024)
• Malai Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in M G R Nagar Ward 8

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, making the total Rs 31,500. 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 M G R Nagar Ward 8?

The Sub Registrar Office covering M G R Nagar Ward 8 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Acharapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements set by the Registration Department.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This value protects the interests of the government by ensuring that properties are not undervalued during transactions.

Frequently asked questions

What is the current guideline value for M G R Nagar Ward 8?

The current guideline value for M G R Nagar Ward 8 is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 350 per sq.ft in 2024, reflecting a 75% increase over the years.

What is the land classification for M G R Nagar Ward 8?

The land classification for M G R Nagar Ward 8 is Residential Class I Type - I.

Where can I find the Sub Registrar Office for M G R Nagar Ward 8?

The Sub Registrar Office for M G R Nagar Ward 8 is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is the stamp duty calculated for property in M G R Nagar Ward 8?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,50,000, the stamp duty at 7% would be Rs 24,500.