Guideline Value for M.P.C. Street (Ma.Po.C) (M.G.R.Nagar)

M.P.C. Street (Ma.Po.C) (M.G.R.Nagar) guideline value

The current guideline value of M.P.C. Street (Ma.Po.C) (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification is Residential Class IV Type - II.

How the guideline value of M.P.C. Street (Ma.Po.C) (M.G.R.Nagar) has changed

The guideline value for M.P.C. Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 to 2017 revision, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing M.P.C. Street's 2024 figure below this median.

• Moovender Street: Rs 3,300 per sq.ft (2024)
• Mrs. Indiragandhi Street: Rs 3,300 per sq.ft (2024)
• Moonai Garden Thottam Pillaiyar Koil Street: Rs 4,100 per sq.ft (2024)
• Moogambikai Street: Rs 4,100 per sq.ft (2024)
• Mullai Street: Rs 3,300 per sq.ft (2024)
• Model House: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.P.C. Street (Ma.Po.C) (M.G.R.Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.P.C. Street (Ma.Po.C) (M.G.R.Nagar)?

The Sub Registrar Office that covers M.P.C. Street (Ma.Po.C) (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of M.P.C. Street (Ma.Po.C) (M.G.R.Nagar)?

The current guideline value of M.P.C. Street (Ma.Po.C) (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, indicating fluctuations over the years.

What is the land classification for M.P.C. Street?

The land classification for M.P.C. Street (Ma.Po.C) (M.G.R.Nagar) is Residential Class IV Type - II.

Where can I find the Sub Registrar Office for M.P.C. Street?

The Ashok Nagar Sub Registrar Office covers M.P.C. Street (Ma.Po.C) (M.G.R.Nagar) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty for properties in Kodambakkam is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.