Guideline Value for MG Nagar Jandha Street

MG Nagar Jandha Street guideline value

The current guideline value for MG Nagar Jandha Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of MG Nagar Jandha Street has changed

Over the years, the guideline value of MG Nagar Jandha Street has undergone several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which means the current value of MG Nagar Jandha Street is below this median.

• MG Nagar Anthoniyar Koil Street: Rs 2,200 per sq.ft (2024)
• MG Nagar Kattabomman Street: Rs 2,800 per sq.ft (2024)
• MG Nagar Anjukammal Street: Rs 2,200 per sq.ft (2024)
• MG Nagar Kennady Street: Rs 2,200 per sq.ft (2024)
• MG Nagar Ambethkar Street: Rs 2,800 per sq.ft (2024)
• MG Nagar Kirubalani Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in MG Nagar Jandha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MG Nagar Jandha Street?

The MG Nagar Jandha Street falls under the jurisdiction of the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Tharamani, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable taxes and fees. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of MG Nagar Jandha Street?

The current guideline value of MG Nagar Jandha Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for MG Nagar Jandha Street?

MG Nagar Jandha Street is classified as Residential Class III Type - I.

Where can I find the registration office for MG Nagar Jandha Street?

The registration office for MG Nagar Jandha Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a total guideline value of Rs 22,00,000, leading to specific fees based on that value.