Guideline Value for MEGA NAGAR

Mega Nagar guideline value

The current guideline value of Mega Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - III.

How the guideline value of Mega Nagar has changed

According to the guideline value register, there are no figures available for Mega Nagar in the revisions from 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, and the most recent 2024 revision has increased this to Rs 2,750 per sq.ft, marking a change of +10%.

The current guideline value of Rs 2,750 per sq.ft is a significant increase from the previous year. The 2023 revision was the last recorded figure, and this increase reflects the ongoing adjustments in the guideline values within the region.

Guideline values in Nedunkumdram

Nedunkumdram village has 75 streets under the Tambaram Joint 1 SRO, with a 2024 guideline value range from Rs 330 to Rs 5,300 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Mega Nagar's 2024 figure above this median.

• Mcb Green Field Phase - II: Rs 1,320 per sq.ft (2024)
• Mcb Green Field Phase - I: Rs 1,320 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 Mega Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Mega Nagar?

The Sub Registrar Office covering Mega Nagar 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 information.

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

The guideline value is a crucial factor in property transactions in Nedunkumdram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value will influence the overall costs associated with the transaction.

When registering a property, the guideline value serves as a benchmark for the transaction value. It is essential for both parties to understand this value to ensure compliance with local regulations and to accurately calculate the associated fees.

Frequently asked questions

What is the current guideline value of Mega Nagar?

The current guideline value of Mega Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the revisions from 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Mega Nagar?

Mega Nagar is classified as Residential Class II Type - III. This classification is important for understanding the zoning and potential uses of the land.

Where is the Sub Registrar Office for Mega Nagar located?

The Sub Registrar Office for Mega Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property in Mega Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 2,47,500, including both stamp duty and registration fees.