Guideline Value for M.G NAGAR

M.G Nagar guideline value

The current guideline value of M.G Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Vallapakkam village and falls under the Walajabad SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of M.G Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 268 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 400 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The 2024 revision also maintains this value at Rs 400 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, there has been no net change in the guideline value.

Guideline values in Vallapakkam

In Vallapakkam, there are seven streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing M.G Nagar's 2024 figure above this median.

• King Makers: Rs 300 per sq.ft (2024)
• Golden Nagar: Rs 400 per sq.ft (2024)
• Shree Vari Nagar: Rs 300 per sq.ft (2024)
• Sri Abirami Nagar: Rs 300 per sq.ft (2024)
• Sss Nagar: Rs 300 per sq.ft (2024)
• Thirumalai Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in M.G Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.G Nagar?

The Sub Registrar Office that covers M.G Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vallapakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of M.G Nagar?

The current guideline value of M.G Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 400 per sq.ft in 2024. It was Rs 268 per sq.ft in 2017 and has fluctuated in previous years, but overall, there has been no change from 2012 to 2024.

What is the median guideline value in Vallapakkam?

The median guideline value in Vallapakkam for the year 2024 is Rs 300 per sq.ft. M.G Nagar's value is above this median, set at Rs 400 per sq.ft.

What are the stamp duty and registration fees for M.G Nagar?

For a property in M.G Nagar valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where can I find the Sub Registrar Office for M.G Nagar?

The Sub Registrar Office for M.G Nagar is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information by using the provided link.