Guideline Value for M.G. Nagar-XIIA

M.G. Nagar-XIIA guideline value

The current guideline value of M.G. Nagar-XIIA is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Adhanoor village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

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

The guideline value for M.G. Nagar-XIIA has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a significant increase of 400%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the same value was retained in the 2024 revision, indicating no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 400%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Adhanoor

In Adhanoor village, 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 guideline value for these streets is Rs 1,000 per sq.ft, which is equal to the current guideline value of M.G. Nagar-XIIA.

• M.G. Nagar-XII: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XIII: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XI: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XIV: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-X: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XV: Rs 1,000 per sq.ft (2024)

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

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 cost 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 more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers M.G. Nagar-XIIA 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 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 a property can be registered, ensuring that the transaction is documented accurately.

When a buyer and seller agree on a sale price, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction adheres to the legal requirements set forth by the Registration Department.

Frequently asked questions

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

The current guideline value of M.G. Nagar-XIIA 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 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and has remained at Rs 1,000 per sq.ft from 2017 to 2024.

What is the stamp duty for property in M.G. Nagar-XIIA?

The stamp duty for property in M.G. Nagar-XIIA is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 70,000.

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

The Sub Registrar Office for M.G. Nagar-XIIA is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What are the other streets in Adhanoor with the same guideline value?

Other streets in Adhanoor with the same guideline value of Rs 1,000 per sq.ft include M.G. Nagar-XII, M.G. Nagar-XIII, M.G. Nagar-XI, M.G. Nagar-XIV, M.G. Nagar-X, and M.G. Nagar-XV.