Guideline Value for M.G. Nagar-XV

M.G. Nagar-XV guideline value

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

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

The guideline value of M.G. Nagar-XV has seen several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a 400% increase. However, the value then dropped to Rs 670 per sq.ft in the 2017 revision, a decrease of 33%. Following this, the value remained stable at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 400%.

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 for these streets is Rs 1,000 per sq.ft, which aligns with the guideline value of M.G. Nagar-XV.

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

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 also use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office covering M.G. Nagar-XV is 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 plays a crucial role during the registration of property transactions in Adhanoor. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value is referenced to determine the applicable fees. Buyers should be aware that the registration process will take into account the guideline value or the sale price, whichever is higher, to calculate the stamp duty and registration fees.

Frequently asked questions

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

The current guideline value of M.G. Nagar-XV 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 since 2023.

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

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

What is the registration office for M.G. Nagar-XV?

The registration office for M.G. Nagar-XV is the Gooduvancheri Sub Registrar Office, 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-XV?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 10,00,000, leading to a stamp duty of Rs 70,000.