Guideline Value for M.G.Nagar

M.G.Nagar guideline value

The current guideline value of M.G.Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 2,389 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

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

In the 2017 revision, the guideline value was set at Rs 1,600 per sq.ft. This value remained unchanged in the subsequent revisions until 2023, where it was still Rs 2,389 per sq.ft. The most recent revision in 2024 also maintains this figure, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase is also 49%. It is important to note that the register has no figures for M.G.Nagar for the years 2002, 2003, 2007, and 2012.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for M.G.Nagar is above this median.

• M.G. Nagar Extension: Rs 2,389 per sq.ft (2024)
• Mahanathi Nagar: Rs 700 per sq.ft (2024)
• Madhavi Nagar: Rs 700 per sq.ft (2024)
• Lumina: Rs 1,001 per sq.ft (2024)
• Nethaji Nagar: Rs 700 per sq.ft (2024)
• N. K. C. Nagar: Rs 700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,389 per sq.ft, the guideline value amounts to Rs 23,89,000. The stamp duty at 7% would be Rs 1,67,230, and the registration fee at 2% would be Rs 47,780, bringing the total to Rs 2,15,010. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers M.G.Nagar?

The Chengleput Joint II Sub Registrar Office covers M.G.Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kayirambedu. It is used to compute the stamp duty and registration fees, which are mandatory for legal documentation.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair and standardized rate, thereby facilitating transparency in property dealings.

Frequently asked questions

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

The current guideline value of M.G.Nagar is Rs 2,389 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, remaining at Rs 2,389 per sq.ft from 2017 to 2024, with no change between 2023 and 2024.

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

M.G.Nagar is classified as Mixed Special Type - II, which is significant for understanding its intended use and potential restrictions.

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

For a property valued at the current guideline value of Rs 23,89,000, the stamp duty would be Rs 1,67,230, and the registration fee would be Rs 47,780, totaling Rs 2,15,010.

Where is the Sub Registrar Office for M.G.Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.