Guideline Value for M.C.M. Garden 1st Street

M.C.M. Garden 1st Street guideline value

The current guideline value for M.C.M. Garden 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - II.

How the guideline value of M.C.M. Garden 1st Street has changed

Looking at the revisions, the guideline value for M.C.M. Garden 1st Street has seen several changes over the years. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then rose again to the current value of Rs 1,600 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a notable increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which aligns with the guideline value of M.C.M. Garden 1st Street.

• M.C.M. Garden 2nd Street: Rs 1,600 per sq.ft (2024)
• M.C.M. Garden 3rd street: Rs 1,600 per sq.ft (2024)
• Mayor Basudev Street: Rs 2,700 per sq.ft (2024)
• Meenambal Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.C.M. Garden 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers M.C.M. Garden 1st Street?

The M.C.M. Garden 1st Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

When buying or selling property in Tondaiarpet, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of M.C.M. Garden 1st Street?

The current guideline value of M.C.M. Garden 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for M.C.M. Garden 1st Street?

M.C.M. Garden 1st Street is classified as Residential Class I Type - II.

What are the other streets in Tondaiarpet and their guideline values?

Other streets in Tondaiarpet include M.C.M. Garden 2nd Street and M.C.M. Garden 3rd Street, both at Rs 1,600 per sq.ft, as well as Mayor Basudev Street at Rs 2,700 per sq.ft, and Meenambal Nagar streets ranging from Rs 1,100 per sq.ft.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.