Guideline Value for M.C.N.NAGAR 1st CROSS STREET

M.C.N.NAGAR 1st CROSS STREET guideline value

The current guideline value of M.C.N.NAGAR 1st CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of M.C.N.NAGAR 1st CROSS STREET has changed

The guideline value for M.C.N.NAGAR 1st CROSS STREET has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the 2024 guideline value for M.C.N.NAGAR 1st CROSS STREET.

• M.C.N.Nagar: Rs 3,900 per sq.ft (2024)
• M.C.N.NAGAR 2nd CROSS STREET: Rs 3,300 per sq.ft (2024)
• M.C.N.NAGAR 3rd CROSS STREET: Rs 3,300 per sq.ft (2024)
• M.C.N.NAGAR 4th CROSS STREET: Rs 3,300 per sq.ft (2024)
• M.C.N.Extension: Rs 3,900 per sq.ft (2024)
• M.C.N.NAGAR 5th CROSS STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.C.N.NAGAR 1st CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.C.N.NAGAR 1st CROSS STREET?

The M.C.N.NAGAR 1st CROSS STREET falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is sold, the guideline value is used to assess the applicable duties, ensuring that the fees are calculated based on a standardized value. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of M.C.N.NAGAR 1st CROSS STREET?

The current guideline value of M.C.N.NAGAR 1st CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, followed by Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for M.C.N.NAGAR 1st CROSS STREET?

The land classification for M.C.N.NAGAR 1st CROSS STREET is Residential Class II Type - I.

Which office handles registrations for M.C.N.NAGAR 1st CROSS STREET?

The Neelankarai Sub Registrar Office handles registrations for M.C.N.NAGAR 1st CROSS STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.