Guideline Value for M.G. Nagar Main Road

M.G. Nagar Main Road guideline value

The current guideline value of M.G. Nagar Main Road in Ullagaram village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This road falls under the Residential Class I Type - III land classification.

How the guideline value of M.G. Nagar Main Road has changed

The guideline value for M.G. Nagar Main Road has seen significant changes over the years. The earliest recorded figure is from 2002, where the value was Rs 206 per sq.ft. In 2003, it increased to Rs 231 per sq.ft, marking a change of +12%. Following this, the value surged to Rs 1,200 per sq.ft in 2007, which is a remarkable increase of +419%. The value then rose to Rs 3,500 per sq.ft in 2012, showing a substantial increase of +192%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of -33%. The guideline value then increased significantly to Rs 3,500 per sq.ft in 2023, with a change of +49%. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, representing an increase of +11% from the previous year.

There are no recorded figures for the years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by +1793%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. M.G. Nagar Main Road's current guideline value of Rs 3,900 per sq.ft is above this median.

• M G Nagar Main: Rs 3,900 per sq.ft (2024)
• M G Nagar 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• M G Nagar 1st Cross Street: Rs 3,900 per sq.ft (2024)
• M G R Cross Street: Rs 3,900 per sq.ft (2024)
• M G R Street Main: Rs 3,900 per sq.ft (2024)
• Mekmillan Colony Main: Rs 3,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.G. Nagar Main Road?

The Sub Registrar Office that covers M.G. Nagar Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Ullagaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a basis to calculate these fees, ensuring that the transaction is recorded accurately in the official registry.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of M.G. Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 206 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1793%.

What are the stamp duty and registration fees for property in M.G. Nagar Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers M.G. Nagar Main Road?

The Alandur Sub Registrar Office covers M.G. Nagar Main Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for M.G. Nagar Main Road?

M.G. Nagar Main Road falls under the Residential Class I Type - III land classification.