Guideline Value for M.R. Nagar 2nd Main Street

M.R. Nagar 2nd Main Street guideline value

The current guideline value of M.R. Nagar 2nd Main Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of M.R. Nagar 2nd Main Street has changed

The guideline value for M.R. Nagar 2nd Main Street has undergone several revisions. The earliest recorded figure is from the 2012 revision, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, marking a significant increase of 61% from the 2017 figure.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, comparing the 2012 figure to the current 2024 figure, there has been an increase of 8%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of M.R. Nagar 2nd Main Street.

• M.R. Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 1st Main Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Main Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.R. Nagar 2nd Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to 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 the 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 detailed calculations.

Which Sub Registrar Office covers M.R. Nagar 2nd Main Street?

The M.R. Nagar 2nd Main Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit 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 determining the stamp duty and registration fees, ensuring that they are calculated fairly based on the property’s assessed value.

Frequently asked questions

What is the current guideline value of M.R. Nagar 2nd Main Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. This reflects a significant increase of 61% from 2017 to 2024.

What is the registration office for M.R. Nagar 2nd Main Street?

The Madhavaram Sub Registrar Office covers M.R. Nagar 2nd Main Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.