Guideline Value for M.G.M Nagar

M.G.M Nagar guideline value

The current guideline value of M.G.M Nagar, located in Agaram Male village under the Poonamallee SRO, is Rs 770 per sq.ft as per the 2024 revision. The land classification for this area is Residential Special Type - I.

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

The guideline value for M.G.M Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and the most recent 2024 revision has raised it further to Rs 770 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaram Male

Agaram Male village features 21 streets under the Poonamallee SRO with a guideline value for 2024 ranging from Rs 550 to Rs 2,800 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value of M.G.M Nagar.

• M.G.A Avenue: Rs 770 per sq.ft (2024)
• Murugesan Nagar: Rs 770 per sq.ft (2024)
• Lakshmi Nagar: Rs 770 per sq.ft (2024)
• Pachaivarana Perumal Koil Street: Rs 550 per sq.ft (2024)
• Pushpha Nagar: Rs 770 per sq.ft (2024)
• Sannathi Street: Rs 550 per sq.ft (2024)

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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, leading to a total of Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers M.G.M Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Agaram Male. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What are the other streets with the same guideline value in Agaram Male?

Other streets in Agaram Male with the same guideline value of Rs 770 per sq.ft include M.G.A Avenue, Murugesan Nagar, Lakshmi Nagar, and Pushpha Nagar.

What is the registration fee for a property in M.G.M Nagar?

The registration fee for a property in M.G.M Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total registration fee would be Rs 15,400.

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

The Poonamallee Sub Registrar Office handles property registrations in M.G.M Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.