Guideline Value for M.G.M Nagar

M.G.M Nagar guideline value

The current guideline value of M.G.M Nagar is Rs 1,000 per sq.ft. This area is located in Melakottyur village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Special Type - III.

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

The guideline value for M.G.M Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,000 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. However, in the 2023 revision, the guideline value increased to Rs 1,000 per sq.ft again. Notably, there are no figures available for the revisions in 2002, 2003, and 2007, as well as for 2024.

When looking at the changes between the revisions, from 2012 to 2017, there was a decrease of 33%. Conversely, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2023, the guideline value remained constant at Rs 1,000 per sq.ft.

Guideline values in Melakottyur

Currently, there are no specific village figures available for Melakottyur. M.G.M Nagar is one of the streets under the Gooduvancheri SRO, and there are no other streets in Melakottyur 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 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for stamp duty and registration fees would be 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 on calculating your fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering 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 details.

How the guideline value is used when you buy or sell in Melakottyur

The guideline value is a crucial factor when it comes to the registration of property in Melakottyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that both parties are aware of the official valuation of the property. This helps in maintaining transparency during the registration process and ensures compliance with local regulations.

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 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023. There are no figures available for the revisions in 2002, 2003, and 2007, as well as for 2024.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. This is calculated based on the guideline value.

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

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

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

The land classification for M.G.M Nagar is Residential Special Type - III, which defines the usage and regulations for properties in this area.