Guideline Value for M.G. Nagar Part (II,III)

M.G. Nagar Part (II,III) guideline value

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

How the guideline value of M.G. Nagar Part (II,III) has changed

Over the years, the guideline value for M.G. Nagar Part (II,III) has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a substantial rise of 233%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The most recent revision in 2023 restored the guideline value to Rs 2,000 per sq.ft, showing an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 233%. It is important to note that 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 Part (II,III) is one of the streets under the jurisdiction of the Gooduvancheri SRO.

Stamp duty and registration fee for property in M.G. Nagar Part (II,III)

For a 1,000 sq.ft plot at the current guideline value 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 higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G. Nagar Part (II,III)?

The Sub Registrar Office that covers M.G. Nagar Part (II,III) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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 critical factor when buying or selling property in Urapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction adheres to the current guideline value to avoid any discrepancies. This value is regularly updated, and it is advisable to check for the latest figures before proceeding with any property transaction.

Frequently asked questions

What is the current guideline value for M.G. Nagar Part (II,III)?

The current guideline value for M.G. Nagar Part (II,III) is Rs 2,000 per sq.ft, as per the 2023 revision.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 233%, from Rs 600 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2023.

What was the guideline value in 2017?

In 2017, the guideline value for M.G. Nagar Part (II,III) was Rs 1,340 per sq.ft.

Are there any guideline values for the years 2002, 2003, and 2024?

The register has no figures for M.G. Nagar Part (II,III) for the years 2002, 2003, and 2024.

What is the registration fee for a property in M.G. Nagar Part (II,III)?

The registration fee for a property in M.G. Nagar Part (II,III) is calculated at 2% of the guideline value or sale price, whichever is higher. For example, on a guideline value of Rs 20,00,000, the registration fee would be Rs 40,000.