Guideline Value for M.C.M. Garden 2nd Street

M.C.M. Garden 2nd Street guideline value

The current guideline value of M.C.M. Garden 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - II.

How the guideline value of M.C.M. Garden 2nd Street has changed

The guideline value for M.C.M. Garden 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and finally rose to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the current guideline value of M.C.M. Garden 2nd Street.

• M.C.M. Garden 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.C.M. Garden 2nd Street?

The M.C.M. Garden 2nd Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps to determine the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of M.C.M. Garden 2nd Street?

The current guideline value of M.C.M. Garden 2nd 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 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the registration office for M.C.M. Garden 2nd Street?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, covers M.C.M. Garden 2nd Street.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

How is the guideline value determined for properties in Tondaiarpet?

The guideline value is determined by the Registration Department and is based on various factors, including the location and classification of the property. It is updated periodically to reflect changes in the real estate market.