Guideline Value for MCB MADURA PHASE - I

Mcb Madura Phase - I guideline value

The current guideline value of Mcb Madura Phase - I is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Thiruninravur-A village, under the Avadi SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mcb Madura Phase - I has changed

The guideline value for Mcb Madura Phase - I has seen significant changes over the years. The 2017 revision set the value at Rs 469 per sq.ft, which was then increased to Rs 700 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 770 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, 2007, and 2012. The substantial increase from Rs 469 in 2017 to Rs 770 in 2024 reflects the changes in the property market within this timeframe.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,750 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value of Mcb Madura Phase - I at Rs 770 per sq.ft is above this median.

• Mcb Madura Phase-II: Rs 770 per sq.ft (2024)
• M.C.B Mathura Phase IV: Rs 770 per sq.ft (2024)
• Mettu Street: Rs 950 per sq.ft (2024)
• M.G.R.Nagar 1 To 10 Streets: Rs 750 per sq.ft (2024)
• M.G.R Street: Rs 750 per sq.ft (2024)
• Mangala Garden: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Mcb Madura Phase - I

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Mcb Madura Phase - I?

The Mcb Madura Phase - I is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is an essential factor when buying or selling property in Thiruninravur-A. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to avoid any legal complications during registration.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions, reflecting the established value of the property in the area.

Frequently asked questions

What is the current guideline value of Mcb Madura Phase - I?

The current guideline value of Mcb Madura Phase - I is Rs 770 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 469 per sq.ft in 2017 to Rs 770 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Mcb Madura Phase - I?

Mcb Madura Phase - I is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Avadi Sub Registrar Office located?

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

How is stamp duty calculated for properties in Mcb Madura Phase - I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fee would amount to Rs 69,300 based on the current guideline value.