Guideline Value for M.C.C. Nagar

M.C.C. Nagar guideline value

The current guideline value of M.C.C. Nagar is Rs 1,195 per sq.ft, as per the 2023 revision. This area falls under Ayyencheri village and is managed by the Gooduvancheri SRO. The land classification for M.C.C. Nagar is Residential Class I Type - I.

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

The guideline value of M.C.C. Nagar has undergone several revisions over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% increase. However, in the 2017 revision, the value decreased to Rs 800 per sq.ft, a reduction of 20%. The most recent revision in 2023 saw a significant increase to Rs 1,195 per sq.ft, representing a 49% rise from the previous figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 139%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Ayyencheri

Currently, there are no specific village figures provided for Ayyencheri. M.C.C. Nagar is the only street mentioned under the Gooduvancheri SRO.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,195 per sq.ft, the total guideline value is Rs 11,95,000. The stamp duty at 7% amounts to Rs 83,650, and the registration fee at 2% is Rs 23,900, bringing the total cost together to Rs 1,07,550. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The M.C.C. Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor during property registration in Ayyencheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps determine the official value of the property for legal purposes. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the overall transaction costs.

Frequently asked questions

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

The current guideline value of M.C.C. Nagar is Rs 1,195 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 500 per sq.ft to Rs 1,195 per sq.ft in 2023, marking an overall increase of 139%.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total costs would be Rs 1,07,550.

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

The Gooduvancheri Sub Registrar Office covers M.C.C. Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there any other streets in Ayyencheri with guideline values listed?

Currently, there are no other streets in Ayyencheri listed under the Gooduvancheri SRO.