Guideline Value for M.R. Nagar 3rd Street

M.R. Nagar 3rd Street guideline value

The current guideline value of M.R. Nagar 3rd 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 3rd Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year. The register has no figure for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase in the guideline value. The 2024 figure of Rs 2,700 per sq.ft aligns with the median value of Rs 2,700 per sq.ft for the 1318 streets in Kodungaiyur under the Madhavaram SRO.

Guideline values in Kodungaiyur

Kodungaiyur has a range of guideline values for its streets, with figures from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for M.R. Nagar 3rd Street.

• M.R. Nagar 3rd Main Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.R. Nagar 3rd 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, bringing the total to Rs 2,43,000. 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.R. Nagar 3rd Street?

The M.R. Nagar 3rd Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. It is used to determine the amount of stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

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

The current guideline value of M.R. Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 2,500 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8%.

What is the registration office for M.R. Nagar 3rd Street?

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

How is stamp duty calculated for properties in M.R. Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.

What other streets have the same guideline value in Kodungaiyur?

Other streets in Kodungaiyur, such as M.R. Nagar 3rd Main Street, M.R. Nagar 4th Cross Street, and several others, also have a guideline value of Rs 2,700 per sq.ft in 2024.