Guideline Value for M.R. Nagar 5th Street

M.R. Nagar 5th Street guideline value

The current guideline value of M.R. Nagar 5th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of M.R. Nagar 5th 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, the 2024 revision saw an increase to Rs 2,700 per sq.ft, marking an 8% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register does not provide figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, only the 2012, 2023, and 2024 revisions are relevant for understanding the changes in the guideline value.

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 the village is Rs 2,700 per sq.ft, which aligns with the current guideline value of M.R. Nagar 5th Street.

• M.R. Nagar 5th 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 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 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 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 amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and 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 5th Street?

The M.R. Nagar 5th 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 plays a crucial role during the property registration process in Kodungaiyur. It is essentially the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the actual sale price. This ensures transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of M.R. Nagar 5th 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 remained at Rs 2,500 per sq.ft from 2012 to 2023, and then increased to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

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

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

What are the stamp duty and registration fees for properties in M.R. Nagar 5th Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. Duty is charged on the higher of the guideline value or the sale price.

What is the land classification of M.R. Nagar 5th Street?

M.R. Nagar 5th Street is classified under Residential Class I Type - I, indicating its designation for residential purposes.