Guideline Value for M.C.M. Garden 3rd street

M.C.M. Garden 3rd street guideline value

The current guideline value of M.C.M. Garden 3rd 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 3rd street has changed

The guideline value for M.C.M. Garden 3rd street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for M.C.M. Garden 3rd street. 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 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which aligns with the current value for M.C.M. Garden 3rd street.

• M.C.M. Garden 2nd Street: Rs 1,600 per sq.ft (2024)
• M.C.M. Garden 1st 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 3rd 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, totaling Rs 1,44,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.C.M. Garden 3rd street?

The M.C.M. Garden 3rd 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

What is the current guideline value of M.C.M. Garden 3rd street?

The current guideline value of M.C.M. Garden 3rd 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 3rd street?

M.C.M. Garden 3rd street is classified as Residential Class I Type - II.

Where can I find the Royapuram Sub Registrar Office?

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

How is stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For M.C.M. Garden 3rd street, the current guideline value is Rs 1,600 per sq.ft.