Guideline Value for M.G.R. Nagar 5th Street

M.G.R. Nagar 5th Street guideline value

The current guideline value of M.G.R. Nagar 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of M.G.R. Nagar 5th Street has changed

Since the 2012 revision, the guideline value for M.G.R. Nagar 5th Street has experienced various changes. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 2,500 per sq.ft, representing an increase of 49%. The latest revision in 2024 has set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for M.G.R. Nagar 5th Street.

• M.G.R. Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 9th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers M.G.R. Nagar 5th Street?

The Sub Registrar Office that covers M.G.R. Nagar 5th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the necessary fees, ensuring that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 5th Street?

The current guideline value of M.G.R. Nagar 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the registration office for M.G.R. Nagar 5th Street?

The registration office for M.G.R. Nagar 5th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in M.G.R. Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,89,000.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur under the Madhavaram SRO have a guideline value of Rs 2,700 per sq.ft as well, reflecting the median value for the area.