Guideline Value for M.G. Nagar-XIII

M.G. Nagar-XIII guideline value

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

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

The guideline value for M.G. Nagar-XIII has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, it then decreased to Rs 670 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and this value remains unchanged in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a 49% increase, while the change from 2012 to 2017 was a decrease of 33%. Notably, the value increased by 400% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adhanoor

Adhanoor village has 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 in this area is Rs 1,000 per sq.ft, which is equal to the 2024 figure for M.G. Nagar-XIII.

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

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

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 the 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-XIII?

The M.G. Nagar-XIII area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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 is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and remaining at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions.

What is the stamp duty rate for properties in M.G. Nagar-XIII?

The stamp duty rate for properties in M.G. Nagar-XIII is 7%, calculated on the higher of the guideline value or the sale price.

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.

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

M.G. Nagar-XIII is classified as Residential Special Type - I under the guideline value register.