Guideline Value for MGM Green Garden

MGM Green Garden guideline value

The current guideline value of MGM Green Garden is Rs 1,000 per sq.ft. It is located in Melakottyur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of MGM Green Garden has changed

The guideline value for MGM Green Garden has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. However, in the 2017 revision, it decreased to Rs 670 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw the guideline value rise to Rs 1,000 per sq.ft again, reflecting an increase of 49% from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained unchanged at Rs 1,000 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values available for other streets in Melakottyur. MGM Green Garden is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in MGM Green Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that 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 MGM Green Garden?

The Gooduvancheri Sub Registrar Office covers MGM Green Garden. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Melakottyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of MGM Green Garden?

The current guideline value of MGM Green Garden is Rs 1,000 per sq.ft as per the 2023 revision.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023, resulting in a 49% increase from 2017 to 2023.

What is the land classification of MGM Green Garden?

MGM Green Garden is classified as Residential Special Type - III, indicating its intended use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

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, for a 1,000 sq.ft plot at Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000, leading to a stamp duty of Rs 70,000 and a registration fee of Rs 20,000.