Guideline Value for MAC Nagar

MAC Nagar guideline value

The current guideline value of MAC Nagar, located in Kobarasanallur village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of MAC Nagar has changed

Over the years, the guideline value of MAC Nagar has seen significant revisions. The 2007 revision set the value at Rs 502 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012. However, this value dropped to Rs 1,206 per sq.ft in the 2017 revision. The 2023 revision brought it back up to Rs 1,800 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,980 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, from 2007 to 2012, there was a notable increase of 259%. However, from 2012 to 2017, the value decreased by 33%. The value then surged by 49% from 2017 to 2023, and finally, from 2023 to 2024, it increased by 10%. Overall, from 2007 to 2024, the guideline value has risen by 294%.

Guideline values in Kobarasanallur

In Kobarasanallur, there are 28 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of MAC Nagar.

• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Marshall Nagar: Rs 1,980 per sq.ft (2024)
• KGT Nagar: Rs 1,980 per sq.ft (2024)
• Kesar Nagar: Rs 3,285 per sq.ft (2024)
• Moogambigai Nagar Phase I & II: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in MAC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MAC Nagar?

The Sub Registrar Office that covers MAC Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kobarasanallur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

It is essential for both buyers and sellers to understand the guideline value, as it affects the overall cost of the transaction. Accurate knowledge of these values can help in budgeting for the additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of MAC Nagar?

The current guideline value of MAC Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 502 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 294% over the years.

What are the stamp duty and registration fees for a property in MAC Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers MAC Nagar?

The Kunrathur Sub Registrar Office covers MAC Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of MAC Nagar?

The land classification for MAC Nagar is Mixed Special Type - II.