Guideline Value for MRC NAGAR

Mrc Nagar guideline value

The current guideline value of Mrc Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village under the Thiruvottiyur SRO and is classified as Residential Class I Type - III.

How the guideline value of Mrc Nagar has changed

The guideline value for Mrc Nagar has undergone several revisions over the years. The earliest registered figure is from 2017, where the value was Rs 134 per sq.ft. In 2023, this value increased to Rs 200 per sq.ft, reflecting a significant change of 49%. The most recent revision in 2024 has set the value at Rs 220 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 462 per sq.ft. The median value for these streets is Rs 330 per sq.ft, indicating that Mrc Nagar's current guideline value is below this median.

• Munaga Avenue: Rs 330 per sq.ft (2024)
• Muthu Anvenue: Rs 330 per sq.ft (2024)
• M.G.R. Nagar: Rs 330 per sq.ft (2024)
• Nachiyapuram: Rs 330 per sq.ft (2024)
• Nandanar Street: Rs 330 per sq.ft (2024)
• Mariamman Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Mrc Nagar

For a 1,000 sq.ft plot at the current rate of Rs 220 per sq.ft, the guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, totaling Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mrc Nagar?

The Sub Registrar Office that covers Mrc Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Athipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mrc Nagar?

The current guideline value of Mrc Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Athipattu with their guideline values?

Other streets in Athipattu include Munaga Avenue, Muthu Anvenue, M.G.R. Nagar, Nachiyapuram, Nandanar Street, and Mariamman Nagar, all having a guideline value of Rs 330 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Mrc Nagar?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Which office handles property registrations in Mrc Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations in Mrc Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.