Guideline Value for M.G. Nagar (I)

M.G. Nagar (I) guideline value

The current guideline value for M.G. Nagar (I) is Rs 2,000 per sq.ft, as per the 2023 revision. This area is located in Urapakkam village, under the Gooduvancheri SRO, and is classified as Mixed Special Type - I.

How the guideline value of M.G. Nagar (I) has changed

The guideline value for M.G. Nagar (I) has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The latest revision in 2023 brought the guideline value back to Rs 2,000 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 233%. The register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no specific village figures available for Urapakkam. M.G. Nagar (I) is one of the streets under the jurisdiction of the Gooduvancheri SRO.

• none given

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

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total to Rs 1,80,000. It is important to note that 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.G. Nagar (I)?

The Sub Registrar Office that covers M.G. Nagar (I) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Urapakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties. Buyers should ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of M.G. Nagar (I) is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and returned to Rs 2,000 per sq.ft in 2023.

What are the stamp duty and registration fees for property in M.G. Nagar (I)?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 1,80,000.

Which Sub Registrar Office covers M.G. Nagar (I)?

The Gooduvancheri Sub Registrar Office covers M.G. Nagar (I), located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there a guideline value for the year 2024 for M.G. Nagar (I)?

The register has no figure for the year 2024 for M.G. Nagar (I).