Guideline Value for M.N Nagar

M.N Nagar guideline value

The current guideline value of M.N Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area is part of Vandalur village and falls under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of M.N Nagar has changed

Over the years, the guideline value of M.N Nagar has seen significant fluctuations. In the 2007 revision, the value was set at Rs 200 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in the 2012 revision, marking a 500% increase. However, this value remained unchanged in the 2012 to 2017 period, where it dropped to Rs 804 per sq.ft, a decrease of 33%. The latest revision in 2023 saw the guideline value rise to Rs 1,200 per sq.ft again, representing an increase of 49% from the 2017 figure.

For the years 2003, 2002, and 2024, the register has no figure for this street. Overall, from 2007 to 2023, the guideline value has increased by 500%.

Guideline values in Vandalur

Currently, there are no specific village figures provided for Vandalur. M.N Nagar is one of the streets in this area. Unfortunately, there are no other streets in Vandalur under the Gooduvancheri SRO listed.

Stamp duty and registration fee for property in M.N Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.N Nagar?

The Sub Registrar Office that covers M.N Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vandalur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property transaction occurs, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.N Nagar?

The current guideline value of M.N Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and finally returned to Rs 1,200 per sq.ft in 2023.

What are the stamp duty and registration fees for a property in M.N Nagar?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles registrations for M.N Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for M.N Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

Are there other streets in Vandalur with guideline values?

Currently, there are no other streets in Vandalur listed under the Gooduvancheri SRO, and no specific village figures are provided for the area.