Guideline Value for M.G.R. Nagar 9th Street

M.G.R. Nagar 9th Street guideline value

The current guideline value of M.G.R. Nagar 9th 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 9th Street has changed

The guideline value for M.G.R. Nagar 9th Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This was followed by the 2023 revision, which increased the value to Rs 2,500 per sq.ft, marking a significant change of 49% from the previous revision. The latest revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from 2023.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

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 equal to the current guideline value of M.G.R. Nagar 9th Street.

• M.G.R. Nagar 8th 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 6th 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 4th 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 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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 precise calculations.

Which Sub Registrar Office covers M.G.R. Nagar 9th Street?

The M.G.R. Nagar 9th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When registering a property, the guideline value is used to determine the official value of the property, which is essential for legal documentation and compliance with local regulations. It helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 9th Street?

The current guideline value of M.G.R. Nagar 9th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 61%.

What is the land classification for M.G.R. Nagar 9th Street?

M.G.R. Nagar 9th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the stamp duty rate for properties in M.G.R. Nagar 9th Street?

The stamp duty rate for properties in M.G.R. Nagar 9th Street is 7%, which is calculated on the higher of the guideline value or the sale price.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.