Guideline Value for MCB GREEN FIELD PHASE - II

Mcb Green Field Phase - II guideline value

The current guideline value for Mcb Green Field Phase - II in Nedunkumdram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - III.

How the guideline value of Mcb Green Field Phase - II has changed

The guideline value for Mcb Green Field Phase - II has seen several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 804 per sq.ft. This figure increased significantly to Rs 1,200 per sq.ft in 2023, marking a rise of 49%. The most recent revision in 2024 brought the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Nedunkumdram

Nedunkumdram village has a total of 75 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 5,300 per sq.ft as of 2024. The median guideline value in the village is Rs 2,200 per sq.ft, placing Mcb Green Field Phase - II's 2024 figure below this median.

• Mcb Green Field Phase - I: Rs 1,320 per sq.ft (2024)
• Mega Nagar: Rs 2,750 per sq.ft (2024)
• New Town: Rs 1,440 per sq.ft (2024)
• Ngo Nagar: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase I: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase I Annex: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Mcb Green Field Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mcb Green Field Phase - II?

The Sub Registrar Office that covers Mcb Green Field Phase - II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nedunkumdram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that the government receives the appropriate revenue from property transactions. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Mcb Green Field Phase - II?

The current guideline value for Mcb Green Field Phase - II is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for Mcb Green Field Phase - II?

Mcb Green Field Phase - II is classified as Residential Special Type - III, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Mcb Green Field Phase - II?

The Sub Registrar Office for Mcb Green Field Phase - II is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mcb Green Field Phase - II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.