Guideline Value for M.G. Nagar-XII

M.G. Nagar-XII guideline value

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

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

The guideline value for M.G. Nagar-XII 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. However, it dropped to Rs 670 per sq.ft in 2017 before stabilizing at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for this street in the 2002 and 2003 revisions.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, the guideline value has risen by 233% from 2007 to 2024, reflecting the current rate of Rs 1,000 per sq.ft.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, which is the same as that of M.G. Nagar-XII.

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

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

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 is charged at 7%, which would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

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

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

The guideline value plays a crucial role in property transactions in Adhanoor. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the necessary revenue from property transactions.

Frequently asked questions

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

The current guideline value of M.G. Nagar-XII 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 2012, then to Rs 670 per sq.ft in 2017, and finally stabilizing at Rs 1,000 per sq.ft in 2023 and 2024.

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

M.G. Nagar-XII is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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 stamp duty calculated in M.G. Nagar-XII?

Stamp duty in M.G. Nagar-XII is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.