Guideline Value for M.G. Nagar-X

M.G. Nagar-X guideline value

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

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

The guideline value for M.G. Nagar-X has seen several revisions over the years. In 2007, the value was Rs 375 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 value remained steady at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 is an increase of 167%, highlighting the fluctuations in the guideline value over the years.

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 for these streets is Rs 1,000 per sq.ft, which is equal to the current value for M.G. Nagar-X.

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

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

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 cost to Rs 90,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering M.G. Nagar-X 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 in the registration process when buying or selling property in Adhanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two values will be used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

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

The current guideline value of M.G. Nagar-X 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 several times, with the most recent revisions being Rs 1,000 per sq.ft in 2023 and 2024, while it was Rs 670 per sq.ft in 2017.

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

M.G. Nagar-X is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the registration office for M.G. Nagar-X?

The registration office for M.G. Nagar-X is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in M.G. Nagar-X?

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