Guideline Value for M.C.NAGAR 4 AND 5TH CROSS STREET

M.C.Nagar 4 And 5th Cross Street guideline value

The current guideline value for M.C.Nagar 4 And 5th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of M.C.Nagar 4 And 5th Cross Street has changed

The guideline value for M.C.Nagar 4 And 5th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 saw a further increase to Rs 3,300 per sq.ft, reflecting a 10% change from the previous year.

The register for the years 2002, 2003, and 2007 does not have figures available for this street. Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase in the guideline value.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. M.C.Nagar 4 And 5th Cross Street's 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• M.C.Nagar 1 To 3 Main Road: Rs 3,300 per sq.ft (2024)
• M.C.Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Maruthi Nagar Main Road: Rs 2,970 per sq.ft (2024)
• Maruthi Nagar Cross Street: Rs 2,380 per sq.ft (2024)
• Maruthi Nagar: Rs 2,970 per sq.ft (2024)
• M.G.R. Nagar: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in M.C.Nagar 4 And 5th 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 amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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.Nagar 4 And 5th Cross Street?

The M.C.Nagar 4 And 5th Cross Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value of the property. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for M.C.Nagar 4 And 5th Cross Street?

The current guideline value for M.C.Nagar 4 And 5th 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, then increased to 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.Nagar 4 And 5th Cross Street?

M.C.Nagar 4 And 5th Cross Street is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for M.C.Nagar 4 And 5th Cross Street?

The Pallavaram Sub Registrar Office covers M.C.Nagar 4 And 5th Cross Street and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in M.C.Nagar?

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