Guideline Value for MGK VEL ANENUE

Mgk Vel Anenue guideline value

The current guideline value for Mgk Vel Anenue, located in Baraniputjur village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Mgk Vel Anenue has changed

The guideline value for Mgk Vel Anenue has undergone several revisions over the years. The earliest recorded figure was Rs 871 per sq.ft in 2017. This increased to Rs 1,300 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,430 per sq.ft, which is 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 the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft, with a median value of Rs 1,210 per sq.ft. The guideline value for Mgk Vel Anenue is above this median.

• Mangadu - Moulivakkam Main Road: Rs 1,450 per sq.ft (2024)
• Leelavathi Nagar: Rs 1,210 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Nova Nagar: Rs 1,210 per sq.ft (2024)
• Nova Nagar Annuxe: Rs 1,210 per sq.ft (2024)
• Karuna Nidhi Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Mgk Vel Anenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total cost to Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mgk Vel Anenue?

The Sub Registrar Office that covers Mgk Vel Anenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Baraniputjur, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that are payable during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The registration office will refer to this value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mgk Vel Anenue?

The current guideline value of Mgk Vel Anenue is Rs 1,430 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 871 per sq.ft in 2017 to Rs 1,430 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification of Mgk Vel Anenue?

Mgk Vel Anenue is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Mgk Vel Anenue?

The Sub Registrar Office for Mgk Vel Anenue is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Mgk Vel Anenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 14,30,000 would incur a stamp duty of Rs 1,00,100.