Guideline Value for M.G. Nagar-III,IV

M.G. Nagar-III,IV guideline value

The current guideline value for M.G. Nagar-III,IV 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-III,IV has changed

The guideline value for M.G. Nagar-III,IV has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 500 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2012 revision, marking a 100% rise. However, the value dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the current 2024 revision also keeps it at Rs 1,000 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%.

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. The median value is Rs 1,000 per sq.ft, which is the same as the guideline value for M.G. Nagar-III,IV. Below are the guideline values for other streets in Adhanoor:

• M.G. Nagar-I,II: 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-III,IV

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, totaling Rs 90,000. It is important to note that 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 details.

Which Sub Registrar Office covers M.G. Nagar-III,IV?

The Sub Registrar Office that covers M.G. Nagar-III,IV 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 Adhanoor

The guideline value is a crucial factor in the registration process when buying or selling property in Adhanoor. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This is done to ensure that the government receives the correct amount of revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of M.G. Nagar-III,IV?

The current guideline value of M.G. Nagar-III,IV 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 revisions being Rs 1,000 per sq.ft in both 2023 and 2024, following a rise from Rs 670 per sq.ft in 2017.

What is the land classification for M.G. Nagar-III,IV?

M.G. Nagar-III,IV is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in M.G. Nagar-III,IV?

Stamp duty is calculated as a percentage of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty at 7% would amount to Rs 70,000.