Guideline Value for M.G. Nagar-XIV

M.G. Nagar-XIV guideline value

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

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

The guideline value for M.G. Nagar-XIV has undergone several revisions over the years. In 2007, the value was Rs 275 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The most recent revisions show that the guideline value remained unchanged at Rs 1,000 per sq.ft in both 2023 and 2024.

Between 2017 and 2023, there was a notable increase of 49%, bringing the value back to Rs 1,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 264%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Adhanoor

In Adhanoor, 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 value is Rs 1,000 per sq.ft, which is the same as the guideline value for M.G. Nagar-XIV.

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

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

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, bringing the total charges 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-XIV?

The M.G. Nagar-XIV 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 assistance.

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 applicable to the property being bought or sold.

When registering a property, the guideline value helps ensure that both the buyer and seller are aware of the official valuation of the property. This value is used to calculate the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of M.G. Nagar-XIV 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 275 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, decreased to Rs 670 per sq.ft in 2017, and then remained at Rs 1,000 per sq.ft in both 2023 and 2024.

What is the classification of the land in M.G. Nagar-XIV?

The land in M.G. Nagar-XIV is classified as Residential Special Type - I.

Where can I find the Gooduvancheri Sub Registrar Office?

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-XIV?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.