Guideline Value for M.G. Nagar-XVI

M.G. Nagar-XVI guideline value

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

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

Over the years, the guideline value of M.G. Nagar-XVI has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, the value dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The subsequent revisions in 2023 and 2024 maintained the value at Rs 1,000 per sq.ft, reflecting no change from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 400%.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, which is equal to the current value for M.G. Nagar-XVI.

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

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

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 fees 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-XVI?

The Sub Registrar Office covering M.G. Nagar-XVI is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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 property transactions in Adhanoor, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process. This value helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

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

The current guideline value of M.G. Nagar-XVI 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 in 2023 and 2024.

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

M.G. Nagar-XVI is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in M.G. Nagar-XVI?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

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

The Gooduvancheri Sub Registrar Office covers M.G. Nagar-XVI, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.