Guideline Value for MGM GREEN HILL

Mgm Green Hill guideline value

The current guideline value of Mgm Green Hill, located in Kalvai village, is Rs 3,000 per sq.ft, effective from 1 July 2024. This property falls under the Thiruporur SRO and is classified as Mixed Type - III land.

How the guideline value of Mgm Green Hill has changed

The guideline value for Mgm Green Hill has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, in 2023, the value increased to Rs 1,200 per sq.ft, and a significant jump occurred in the 2024 revision, raising the value to Rs 3,000 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is an increase of 150%. The 2023 to 2024 revision alone reflects a substantial increase of 150%, while the 2017 to 2023 revision saw an increase of 49%. The 2012 to 2017 revision, however, noted a decrease of 33% in the guideline value.

Guideline values in Kalvai

In Kalvai, there are 31 streets under the Thiruporur SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Mgm Green Hill's 2024 figure above this median.

• Maruthi Avenue: Rs 1,000 per sq.ft (2024)
• Karpagam Nagar: Rs 600 per sq.ft (2024)
• Ramakrishna Avenue: Rs 1,800 per sq.ft (2024)
• Rithika Enclave: Rs 400 per sq.ft (2024)
• Rithika Enclave Phase - II: Rs 400 per sq.ft (2024)
• Sanjay Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mgm Green Hill

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total cost for these fees to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mgm Green Hill?

The Mgm Green Hill property is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kalvai. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property. This is particularly important for legal and tax purposes, as it ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Mgm Green Hill?

The current guideline value of Mgm Green Hill is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 3,000 per sq.ft in 2024, showing an overall increase of 150% from 2012 to 2024.

What is the registration office for Mgm Green Hill?

The Thiruporur Sub Registrar Office covers Mgm Green Hill, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mgm Green Hill?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 30,00,000, the stamp duty would be Rs 2,10,000.

What other streets have guideline values in Kalvai?

Other streets in Kalvai include Maruthi Avenue at Rs 1,000 per sq.ft, Karpagam Nagar at Rs 600 per sq.ft, and Ramakrishna Avenue at Rs 1,800 per sq.ft, among others.