Guideline Value for M.G.R.Nagar 6th st ( Ward No.30 )

M.G.R.Nagar 6th st ( Ward No.30 ) guideline value

The current guideline value for M.G.R.Nagar 6th st ( Ward No.30 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of M.G.R.Nagar 6th st ( Ward No.30 ) has changed

The guideline value for M.G.R.Nagar 6th st ( Ward No.30 ) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the 2023 revision, which was Rs 1,200 per sq.ft. The 2012 revision also recorded Rs 1,200 per sq.ft, showing no change from 2012 to 2023. There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

In summary, from 2012 to 2024, the overall increase in the guideline value is 8%. The revisions reflect a steady valuation, with the most significant change occurring between 2023 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for M.G.R.Nagar 6th st ( Ward No.30 ) is below this median.

• M.G.R. Nagar 6th Street (Ward 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 6th Cross st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street (Ward 30): Rs 1,300 per sq.ft (2024)
• M.G.R.Nagar 5th st ( Ward No.30 ): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 8th Street (Ward 30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.Nagar 6th st ( Ward No.30 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, 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, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or 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 6th st ( Ward No.30 )?

The Sub Registrar Office that covers M.G.R.Nagar 6th st ( Ward No.30 ) 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 Madhavaram

The guideline value is an essential factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable fees, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value for M.G.R.Nagar 6th st ( Ward No.30 )?

The current guideline value for M.G.R.Nagar 6th 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 changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There was no change from 2012 to 2023, as both years recorded a value of Rs 1,200 per sq.ft.

What is the land classification for M.G.R.Nagar 6th st ( Ward No.30 )?

The land classification for M.G.R.Nagar 6th st ( Ward No.30 ) is Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

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 guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for M.G.R.Nagar 6th st ( Ward No.30 ) located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it serves the area of M.G.R.Nagar 6th st ( Ward No.30 ).