Guideline Value for M.R. Nagar 3rd Cross Street

M.R. Nagar 3rd Cross Street guideline value

The current guideline value of M.R. Nagar 3rd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, with a land classification of Residential Class I Type - I.

How the guideline value of M.R. Nagar 3rd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for M.R. Nagar 3rd Cross Street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets registered under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for M.R. Nagar 3rd Cross Street.

• M.R. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Main Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 2nd Main Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.R. Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers M.R. Nagar 3rd Cross Street?

The M.R. Nagar 3rd Cross Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit this link.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of M.R. Nagar 3rd Cross Street?

The current guideline value of M.R. Nagar 3rd Cross 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 2,700 per sq.ft in 2024, marking an overall increase of 8% over this period.

What are the stamp duty and registration fees for properties in M.R. Nagar 3rd Cross Street?

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.

Which office handles the registration for M.R. Nagar 3rd Cross Street?

The registration for M.R. Nagar 3rd Cross Street is handled by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined in Kodungaiyur?

The guideline value in Kodungaiyur is determined by the Registration Department and varies by street. It is used to calculate the stamp duty and registration fees during property transactions.