Guideline Value for M.G. Nagar-IX

M.G. Nagar-IX guideline value

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

How the guideline value of M.G. Nagar-IX has changed

The guideline value for M.G. Nagar-IX has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 233% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The 2023 revision maintained the value at Rs 1,000 per sq.ft, showing no change from the previous year. The 2024 revision also holds the value steady at Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

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 equal to the current guideline value of M.G. Nagar-IX.

• M.G. Nagar-III,IV: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-I,II: 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-IX

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total fees together 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G. Nagar-IX?

The M.G. Nagar-IX 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Adhanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

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 compliance with local regulations regarding property transactions.

Frequently asked questions

What is the current guideline value of M.G. Nagar-IX?

The current guideline value of M.G. Nagar-IX 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 from Rs 300 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for M.G. Nagar-IX?

M.G. Nagar-IX is classified as Residential Special Type - I, indicating its designation for residential use.

Where can I find the Gooduvancheri Sub Registrar Office?

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-IX?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000 at a rate of 7%.