Guideline Value for M.C. Devaraj Nagar

M.C. Devaraj Nagar guideline value

The current guideline value of M.C. Devaraj Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Special Type - I.

How the guideline value of M.C. Devaraj Nagar has changed

The guideline value for M.C. Devaraj Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 32 per sq.ft. This figure saw a significant increase to Rs 600 per sq.ft in 2007, marking a change of +1775%. The value then rose to Rs 800 per sq.ft in 2012, which was a decrease of -33% from the previous revision. In 2017, the guideline value increased to Rs 536 per sq.ft, followed by a substantial rise to Rs 800 per sq.ft in 2023, reflecting a change of +49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, which is an increase of +10% from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +2650%.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing M.C. Devaraj Nagar's 2024 figure above that median.

• Manonmani Street: Rs 660 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)
• Maharaja Nagar: Rs 880 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 440 per sq.ft (2024)
• Madhavaram Redhills Road: Rs 880 per sq.ft (2024)
• Muruganandam Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in M.C. Devaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, these fees would total Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers M.C. Devaraj Nagar?

The Sub Registrar Office that covers M.C. Devaraj Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is registered, the stamp duty is calculated 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 M.C. Devaraj Nagar?

The current guideline value of M.C. Devaraj Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 32 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, marking an overall increase of +2650% over the years.

What are the stamp duty and registration fees for properties in M.C. Devaraj Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for M.C. Devaraj Nagar located?

The Sub Registrar Office for M.C. Devaraj Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Grandlyon village?

The median guideline value for streets in Grandlyon village is Rs 660 per sq.ft, with M.C. Devaraj Nagar's value of Rs 880 per sq.ft being above this median.