Guideline Value for M.G.R.Nagar 5th st ( Ward No.30 )

M.G.R.Nagar 5th st ( Ward No.30 ) guideline value

The current guideline value of M.G.R.Nagar 5th st ( Ward No.30 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of M.G.R.Nagar 5th st ( Ward No.30 ) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft in 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing M.G.R.Nagar 5th st ( Ward No.30 ) below this median.

• M.G.R.Nagar 6th Cross st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R.Nagar 4th st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 6th Street (Ward 30): Rs 1,300 per sq.ft (2024)
• M.G.R.Nagar 6th st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R.Nagar 7th Cross Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street (Ward 30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.Nagar 5th st ( Ward No.30 )

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R.Nagar 5th st ( Ward No.30 )?

The M.G.R.Nagar 5th st ( Ward No.30 ) is covered by 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 Madhavaram

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and recorded in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of M.G.R.Nagar 5th st ( Ward No.30 )?

The current guideline value of M.G.R.Nagar 5th st ( Ward No.30 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. There was no change in 2023, and the overall increase from 2012 to 2024 is 8%.

What is the land classification of M.G.R.Nagar 5th st ( Ward No.30 )?

M.G.R.Nagar 5th st ( Ward No.30 ) is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for M.G.R.Nagar 5th st ( Ward No.30 )?

The Madhavaram Sub Registrar Office handles registrations for M.G.R.Nagar 5th st ( Ward No.30 ). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.