Guideline Value for MTC NAGAR

Mtc Nagar guideline value

The current guideline value for Mtc Nagar, located in Mamandoor village under the Chengleput Joint II SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Mtc Nagar has changed

Looking at the historical revisions, the guideline value for Mtc Nagar has seen several changes over the years. In 2012, the value was set at Rs 800 per sq.ft, which remained unchanged until 2023. The 2017 revision marked a decrease to Rs 536 per sq.ft, but by 2023, it had risen to Rs 800 per sq.ft again. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The overall change from the 2012 revision to the 2024 revision is 0%, while the increase from 2017 to 2023 is 49% and the decrease from 2012 to 2017 is 33%.

Guideline values in Mamandoor

Mamandoor village has a total of 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,200 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Mtc Nagar's 2024 figure above this median.

• M.M.Nagar: Rs 800 per sq.ft (2024)
• Maruthamalai M.T.C Nagar: Rs 500 per sq.ft (2024)
• N.T.R Garden: Rs 800 per sq.ft (2024)
• Magalakshminagar Phase-I,Phase-II,Phase-III: Rs 500 per sq.ft (2024)
• Pallava Nagar: Rs 400 per sq.ft (2024)
• K.R. Nagar Extn: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Mtc Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty, charged at 7%, amounts to Rs 56,000, while the registration fee at 2% is Rs 16,000. Together, the total cost for these fees would be Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mtc Nagar?

The Sub Registrar Office that covers Mtc Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mamandoor. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Additionally, the guideline value serves as a benchmark for property transactions, ensuring that the sale price is aligned with the officially recognized value of the property. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Mtc Nagar?

The current guideline value of Mtc Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the most recent revision in 2024 maintaining the value at Rs 800 per sq.ft, which was also the value in 2023. The value decreased to Rs 536 per sq.ft in 2017 from Rs 800 per sq.ft in 2012.

What is the land classification for Mtc Nagar?

The land classification for Mtc Nagar is Residential Special Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Mtc Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property in Mtc Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty at 7% would be Rs 56,000.