Guideline Value for M.R. Nagar 4th Cross Street

M.R. Nagar 4th Cross Street guideline value

The current guideline value of M.R. Nagar 4th 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, and is classified as Residential Class I Type - I.

How the guideline value of M.R. Nagar 4th Cross Street has changed

The guideline value for M.R. Nagar 4th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen an increase of 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 guideline value of M.R. Nagar 4th Cross Street.

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

Stamp duty and registration fee for property in M.R. Nagar 4th 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, bringing the total fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.R. Nagar 4th Cross Street?

The M.R. Nagar 4th Cross Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees payable at the time of registration.

During registration, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the true market value of the property being transferred.

Frequently asked questions

What is the current guideline value of M.R. Nagar 4th Cross Street?

The current guideline value of M.R. Nagar 4th 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, reflecting an overall increase of 8% from 2012 to 2024.

What is the stamp duty for a property in M.R. Nagar 4th Cross Street?

The stamp duty for a property valued at Rs 27,00,000 would be Rs 1,89,000, calculated at 7% of the guideline value.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and impacts the stamp duty and registration fees. The higher value between the guideline and sale price is used for calculating these fees during registration.