Guideline Value for M.R. Nagar 5th Cross Street

M.R. Nagar 5th Cross Street guideline value

The current guideline value of M.R. Nagar 5th Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of M.R. Nagar 5th Cross Street has changed

The guideline value for M.R. Nagar 5th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision, marking a decrease of 23%. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, an increase of 9% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for M.R. Nagar 5th Cross Street. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which is the same as the current guideline value for M.R. Nagar 5th Cross Street.

• M.R. Nagar 4th Cross Street: Rs 2,500 per sq.ft (2024)
• M.R. Nagar 6th Cross Street: Rs 2,500 per sq.ft (2024)
• M.R. Nagar 3rd Street: Rs 2,500 per sq.ft (2024)
• M.R. Nagar 3rd Main Road: Rs 2,500 per sq.ft (2024)
• M.R. Nagar 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• M.R. Nagar 2nd Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in M.R. Nagar 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. 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 5th Cross Street?

The Sub Registrar Office that covers M.R. Nagar 5th Cross Street is 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 Erukancherry

The guideline value is a crucial factor in property transactions in Erukancherry, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. This value serves as a benchmark for both parties during the transaction process.

Frequently asked questions

What is the current guideline value for M.R. Nagar 5th Cross Street?

The current guideline value for M.R. Nagar 5th Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

Is there a guideline value for M.R. Nagar 5th Cross Street for the years 2002, 2003, and 2007?

No, the register has no figures for M.R. Nagar 5th Cross Street for the years 2002, 2003, and 2007.

What is the registration fee for properties in M.R. Nagar 5th Cross Street?

The registration fee for properties in M.R. Nagar 5th Cross Street is calculated at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for M.R. Nagar 5th Cross Street?

The Madhavaram Sub Registrar Office, which covers M.R. Nagar 5th Cross Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.