Guideline Value for M.G. Nagar-V

M.G. Nagar-V guideline value

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

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

The guideline value for M.G. Nagar-V has seen several revisions over the years. The 2007 revision set the value at Rs 305 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, it then decreased to Rs 670 per sq.ft in the 2017 revision, before rising again to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The significant jump from 2007 to 2012 was an increase of 228%, while the drop from 2012 to 2017 was a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 228%.

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 value for these streets is Rs 1,000 per sq.ft, which matches the current guideline value of M.G. Nagar-V.

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

Stamp duty and registration fee for property in M.G. Nagar-V

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. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The M.G. Nagar-V 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 of property transactions in Adhanoor. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations associated with the transaction. Understanding this value helps ensure compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of M.G. Nagar-V is Rs 1,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 305 per sq.ft to Rs 1,000 per sq.ft in 2024, marking an overall increase of 228%.

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

M.G. Nagar-V is classified as Residential Special Type - I, indicating its suitability for residential development.

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 the stamp duty calculated for properties in M.G. Nagar-V?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000, resulting in a stamp duty of Rs 70,000.