Guideline Value for M.G. Nagar-I,II

M.G. Nagar-I,II guideline value

The current guideline value for M.G. Nagar-I,II is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Adhanoor village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of M.G. Nagar-I,II has changed

The guideline value for M.G. Nagar-I,II has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 275 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 264%. However, in 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The value then increased again to Rs 1,000 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 1,000 per sq.ft. The overall change from 2007 to 2024 reflects a 264% increase, indicating a consistent guideline value of Rs 1,000 per sq.ft from 2012 onwards, with no figures available for the years 2002 and 2003.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft, with the median value being Rs 1,000 per sq.ft. M.G. Nagar-I,II's 2024 figure aligns with this median.

• M.G. Nagar-III,IV: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-IX: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-V: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-VII: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-VIII: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-VI,VIIA: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.G. Nagar-I,II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total costs to Rs 90,000. It is important to note that the 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-I,II?

The M.G. Nagar-I,II area is covered by 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 Adhanoor

The guideline value is a crucial factor during the registration process of property transactions in Adhanoor. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue based on the property's value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and fairness in transactions, as it reflects the official valuation set by the registration authorities.

Frequently asked questions

What is the current guideline value for M.G. Nagar-I,II?

The current guideline value for M.G. Nagar-I,II is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 1,000 per sq.ft. The value saw a drop in 2017 but has increased significantly since then.

What is the land classification for M.G. Nagar-I,II?

The land classification for M.G. Nagar-I,II is Residential Special Type - I, indicating its suitability for residential development.

What is the registration fee for property in M.G. Nagar-I,II?

The registration fee is typically 2% of the guideline value. For a property valued at Rs 10,00,000, the registration fee would be Rs 20,000.

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

The Sub Registrar Office covering M.G. Nagar-I,II is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.