Guideline Value for M.G.R. Nagar 6th Street

M.G.R. Nagar 6th Street guideline value

The current guideline value of M.G.R. Nagar 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of M.G.R. Nagar 6th Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure was then reduced to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an increase of 8% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for M.G.R. Nagar 6th 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 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for M.G.R. Nagar 6th Street.

• M.G.R. Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 5th 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 4th Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 6th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that 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.R. Nagar 6th Street?

The Sub Registrar Office that covers M.G.R. Nagar 6th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a reference point used during the registration of property transactions in Kodungaiyur. It is crucial for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that all transactions are processed fairly and transparently. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 6th Street?

The current guideline value of M.G.R. Nagar 6th 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 seen several changes, from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then rising to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,700 per sq.ft in 2024.

What is the land classification for M.G.R. Nagar 6th Street?

M.G.R. Nagar 6th Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in M.G.R. Nagar 6th 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 total stamp duty and registration fees would amount to Rs 2,43,000.