Guideline Value for M.G. Nagar-XI

M.G. Nagar-XI guideline value

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

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

The guideline value for M.G. Nagar-XI has seen several revisions over the years. The 2007 revision set the value at Rs 375 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, it dropped to Rs 670 per sq.ft in the 2017 revision before returning to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The substantial rise from 2007 to 2012 was 167%. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Adhanoor

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

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

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

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 and 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-XI?

The M.G. Nagar-XI 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 property registration in Adhanoor. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a fair transaction value and is used to calculate the necessary fees associated with property registration.

Frequently asked questions

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

The current guideline value of M.G. Nagar-XI 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 375 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 returned to Rs 1,000 per sq.ft in 2023 and 2024.

What other streets in Adhanoor have the same guideline value?

Other streets in Adhanoor that share the same guideline value of Rs 1,000 per sq.ft include M.G. Nagar-X, M.G. Nagar-XII, M.G. Nagar-VI,VIIA, M.G. Nagar-XIIA, M.G. Nagar-VIII, and M.G. Nagar-XIII.

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

Stamp duty in M.G. Nagar-XI is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.