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 2,700 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 5th Cross Street has changed

The guideline value for M.R. Nagar 5th Cross Street has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This 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, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village 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 is Rs 2,700 per sq.ft, which is equal to the 2024 figure for M.R. Nagar 5th Cross Street.

• M.R. Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• M.R. Nagar 3rd Main Street: Rs 2,700 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 2,700 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. It is important to note that 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 on the charges applicable to your property transaction.

Which Sub Registrar Office covers M.R. Nagar 5th Cross Street?

The M.R. Nagar 5th 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 when registering a property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of M.R. Nagar 5th 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 increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What are the guideline values for other streets in Kodungaiyur?

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

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated on properties in M.R. Nagar 5th Cross Street?

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