Guideline Value for M.R. Nagar 4th Street

M.R. Nagar 4th Street guideline value

The current guideline value of M.R. Nagar 4th 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 Street has changed

The guideline value for M.R. Nagar 4th Street has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for M.R. Nagar 4th Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets 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 2024 guideline value for M.R. Nagar 4th Street.

• M.R. Nagar 4th 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 3rd Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Main Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.R. Nagar 4th 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 be Rs 1,89,000, and the registration fee at 2% would amount to 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 and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The M.R. Nagar 4th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions, thereby ensuring compliance with legal requirements.

Frequently asked questions

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

The current guideline value of M.R. Nagar 4th 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 for M.R. Nagar 4th Street was Rs 2,500 per sq.ft in 2012 and 2023, and it increased to Rs 2,700 per sq.ft in 2024, marking an 8% rise from the previous year.

What are the other streets in Kodungaiyur with the same guideline value?

Other streets in Kodungaiyur, such as M.R. Nagar 4th Cross Street, M.R. Nagar 5th Cross Street, and others, also have a guideline value of Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in M.R. Nagar 4th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,43,000, which includes both fees.

Which Sub Registrar Office is responsible for M.R. Nagar 4th Street?

The Madhavaram Sub Registrar Office covers M.R. Nagar 4th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.