Guideline Value for MRF NAGAR

Mrf Nagar guideline value

The current guideline value of Mrf Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Vellivoyal village under the Thiruvottiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Mrf Nagar has changed

The guideline value for Mrf Nagar has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant change of 49%. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting 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 Vellivoyal

In Vellivoyal, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft, with a median value of Rs 440 per sq.ft. Mrf Nagar's 2024 figure is above this median.

• M G R Nagar: Rs 275 per sq.ft (2024)
• Meenachi Nagar: Rs 440 per sq.ft (2024)
• Maruthi Nagar: Rs 440 per sq.ft (2024)
• Nehru Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• P.H. Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Mrf Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. 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 Mrf Nagar?

The Sub Registrar Office that covers Mrf Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vellivoyal. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring compliance with local regulations.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It helps in establishing a fair basis for the financial aspects of the deal, ensuring that all legal requirements are met during the registration process.

Frequently asked questions

What is the current guideline value of Mrf Nagar?

The current guideline value of Mrf Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, marking an overall rise of 64%.

What are the other streets in Vellivoyal and their guideline values?

Other streets in Vellivoyal include M G R Nagar at Rs 275 per sq.ft, Meenachi Nagar at Rs 440 per sq.ft, Maruthi Nagar at Rs 440 per sq.ft, Nehru Nagar at Rs 440 per sq.ft, Perumal Koil Street at Rs 440 per sq.ft, and P.H. Road at Rs 550 per sq.ft, all for the year 2024.

What fees are associated with buying property in Mrf Nagar?

When buying property in Mrf Nagar, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mrf Nagar?

The Sub Registrar Office for Mrf Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.