Guideline Value for M.R.F. NAGAR

M.R.F. Nagar guideline value

The current guideline value of M.R.F. Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024. This area is located in Edayanchavadi village under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of M.R.F. Nagar has changed

The guideline value for M.R.F. Nagar has seen significant changes over the years. The 2017 revision set the rate at Rs 335 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision, marking a substantial rise of 199%. The latest 2024 revision has the guideline value at Rs 1,001 per sq.ft, reflecting no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 199%.

Guideline values in Edayanchavadi

In Edayanchavadi, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,100 per sq.ft. The median value is Rs 1,001 per sq.ft, which is equal to the guideline value of M.R.F. Nagar.

• Moideen Nagar: Rs 1,001 per sq.ft (2024)
• M.D. Avenue: Rs 1,001 per sq.ft (2024)
• Manali New Town T N H B & C M D A: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 1,001 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,001 per sq.ft (2024)
• Lakshmikathammal Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in M.R.F. Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,001 per sq.ft, the guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, totaling Rs 90,090. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.R.F. Nagar?

The M.R.F. Nagar area falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Edayanchavadi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for tax purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.R.F. Nagar?

The current guideline value of M.R.F. Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 1,001 per sq.ft in 2024, which is a total increase of 199% over this period.

What are the other streets in Edayanchavadi with similar guideline values?

Other streets in Edayanchavadi with similar guideline values include Moideen Nagar, M.D. Avenue, Lakshmi Nagar Extn, Lakshmi Nagar, and Lakshmikathammal Nagar, all at Rs 1,001 per sq.ft in 2024.

What is the stamp duty for a property in M.R.F. Nagar?

The stamp duty for a property in M.R.F. Nagar is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 10,01,000, the stamp duty would be Rs 70,070.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can also find your SRO online.