Guideline Value for M.G. Nagar-VI,VIIA

M.G. Nagar-VI,VIIA guideline value

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

How the guideline value of M.G. Nagar-VI,VIIA has changed

Over the years, the guideline value for M.G. Nagar-VI,VIIA has seen several revisions. The 2007 revision set the value at Rs 381 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. The 2017 revision raised it to Rs 670 per sq.ft, and the value remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Notably, the overall change from 2007 to 2024 reflects a substantial increase of 162%.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, placing M.G. Nagar-VI,VIIA at this median value for 2024.

• M.G. Nagar-VIII: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-X: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-VII: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XI: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-V: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XII: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in M.G. Nagar-VI,VIIA

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, bringing the total fees together 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-VI,VIIA?

The Sub Registrar Office covering M.G. Nagar-VI,VIIA 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adhanoor. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these are calculated based on the official valuation rather than the sale price.

When a property is registered, the guideline value is used to assess the applicable fees. Buyers and sellers should be aware that the fees are calculated on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value for M.G. Nagar-VI,VIIA?

The current guideline value for M.G. Nagar-VI,VIIA 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 setting it at Rs 1,000 per sq.ft in 2023 and 2024. The value was Rs 670 per sq.ft in 2017, and Rs 1,000 per sq.ft in 2012.

What is the median guideline value in Adhanoor?

The median guideline value in Adhanoor is Rs 1,000 per sq.ft, which is the same as the current guideline value for M.G. Nagar-VI,VIIA.

What are the stamp duty rates for property in M.G. Nagar-VI,VIIA?

The stamp duty for property in M.G. Nagar-VI,VIIA is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office located for M.G. Nagar-VI,VIIA?

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