Guideline Value for MC Raja Street, Nagelkeni

MC Raja Street, Nagelkeni guideline value

The current guideline value of MC Raja Street, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of MC Raja Street, Nagelkeni has changed

The guideline value for MC Raja Street, Nagelkeni has seen significant changes over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision reflects a further increase to Rs 1,980 per sq.ft, which is a 10% rise from the previous year.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for MC Raja Street, Nagelkeni is below this median.

• Mayor Chittibabu Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• MayorChittibabu 2ndStreet / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• MayorChittibabu 1stStreet / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Meenakshi Street: Rs 1,980 per sq.ft (2024)
• Meenakshi Sundaram Street / Kalanyipuram: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in MC Raja Street, Nagelkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the 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.

Which Sub Registrar Office covers MC Raja Street, Nagelkeni?

The Sub Registrar Office that covers MC Raja Street, Nagelkeni is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal purposes.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of MC Raja Street, Nagelkeni?

The current guideline value of MC Raja Street, Nagelkeni 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 increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for MC Raja Street, Nagelkeni?

MC Raja Street, Nagelkeni is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find other guideline values in Pammal?

Other streets in Pammal under the Pammal SRO have varying guideline values, with the lowest at Rs 880 per sq.ft and the highest at Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft.

What is the stamp duty rate for property transactions in Pammal?

The stamp duty rate for property transactions in Pammal is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.