Guideline Value

Corporate

Guideline Value for M.C. NAGAR

₹385/sq.ft.

The guideline value for M.c. Nagar in Nanthiambakkam village (Thiruvottiyur SRO, Chennai zone) is Rs 385 per sq.ft, effective 1 July 2024. It was Rs 350 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nanthiambakkam

Village

Thiruvottiyur

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹385 /sq.ft.
From 1-4-2023 ₹350 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹234 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹350 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹50 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹49 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹42 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019
044-25992232
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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]

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M.C. Nagar guideline value

The current guideline value of M.C. Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 385 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

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

The guideline value for M.C. Nagar has seen several revisions over the years. Starting from Rs 42 per sq.ft in 2002, it increased to Rs 49 per sq.ft in 2003, marking a 17% rise. The value then saw a modest increase to Rs 50 per sq.ft in 2007, which was a 2% change. Following this, there was a significant jump to Rs 350 per sq.ft in 2012, reflecting a 600% increase. However, the value dropped to Rs 234 per sq.ft in 2017, which was a decrease of 33%. The guideline value then rose to Rs 350 per sq.ft in 2023, showing a 50% increase before reaching the current rate of Rs 385 per sq.ft in 2024, a 10% increase.

There are no figures available for the revisions in the years not mentioned for this street. The overall change from 2002 to 2024 is an increase of 817%.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. M.C. Nagar's 2024 figure of Rs 385 per sq.ft is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, and the registration fee at 2% would be Rs 7,700, making the total charges together Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers M.C. Nagar?

The Sub Registrar Office that covers M.C. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

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

Frequently asked questions

What is the current guideline value of M.C. Nagar?

The current guideline value of M.C. Nagar is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 42 in 2002 to Rs 385 in 2024, showing an overall increase of 817%.

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

For a property valued at Rs 3,85,000, the stamp duty would be Rs 26,950, and the registration fee would be Rs 7,700, totaling Rs 34,650.

Which office handles property registration for M.C. Nagar?

The Thiruvottiyur Sub Registrar Office handles property registration for M.C. Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, which affects the stamp duty and registration fees during a transaction. It ensures that the government receives the appropriate revenue from property sales.