Guideline Value for M.G.M NAGAR

M.G.M Nagar guideline value

The current guideline value of M.G.M Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under Mambakkam village and is classified as Commercial Class I Type - II. The relevant Sub Registrar Office for this region is the Gooduvancheri SRO.

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

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This figure was updated to Rs 1,200 per sq.ft in the 2023 revision, marking an increase of 49%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2024 for this street.

The significant change from 2017 to 2023 reflects the current valuation of the area, with no data available for previous years or the upcoming 2024 revision. This increase indicates a notable adjustment in the guideline value over the six-year period.

Guideline values in Mambakkam

Currently, there are no specific village figures provided for Mambakkam. M.G.M Nagar is one of the areas under the Gooduvancheri SRO, and there are no other streets in Mambakkam listed with guideline values.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000, bringing the total fees together to Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers M.G.M Nagar 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 Mambakkam

The guideline value is a crucial factor in the registration of property transactions in Mambakkam. It serves as a basis for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the higher value between the guideline value and the sale price will be considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of M.G.M Nagar is Rs 1,200 per sq.ft as per the 2023 revision.

How much has the guideline value changed over the years?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, which is a change of 49%.

Are there any guideline values for M.G.M Nagar in previous years?

The register has no figures for the years 2002, 2003, 2007, 2012, and 2024 for M.G.M Nagar.

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

For a 1,000 sq.ft plot valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles property registrations in M.G.M Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for M.G.M Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.