Guideline Value for M.V.NAGAR

M.V.Nagar guideline value

The current guideline value of M.V.Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Thiruninravur-B village under the Avadi SRO, classified as Residential Class II Type - III.

How the guideline value of M.V.Nagar has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for M.V.Nagar.

• Muthamizh Nagar: Rs 770 per sq.ft (2024)
• Muthaiya Lay Out Road & Streets: Rs 440 per sq.ft (2024)
• Narasimma Nagar: Rs 770 per sq.ft (2024)
• Murugesan Nagar 1st Main Road & Street: Rs 870 per sq.ft (2024)
• Murugan Koil St: Rs 770 per sq.ft (2024)
• Narayanasamy Avenue & Streets: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in M.V.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value is Rs 7,70,000. The stamp duty at 7% amounts to Rs 53,900, and the registration fee at 2% is Rs 15,400, bringing the total cost to Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.V.Nagar?

The Sub Registrar Office that covers M.V.Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial factor in the registration process for buying or selling property in Thiruninravur-B. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of M.V.Nagar?

The current guideline value of M.V.Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, which is an overall increase of 64%.

What is the classification of land in M.V.Nagar?

M.V.Nagar is classified as Residential Class II Type - III, indicating its designation for residential purposes.

Where can I find the registration office for M.V.Nagar?

The registration office for M.V.Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated in Thiruninravur-B?

Stamp duty in Thiruninravur-B is calculated based on the higher of the guideline value or the sale price of the property. It is charged at a rate of 7% for stamp duty and 2% for the registration fee.