Guideline Value for M K M NAGAR

M K M Nagar guideline value

The current guideline value of M K M Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kalpakkam village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of M K M Nagar has changed

In the 2017 revision, the guideline value was Rs 67 per sq.ft. This figure increased to Rs 100 per sq.ft in the 2023 revision, marking a change of +49%. The current 2024 revision also maintains the guideline value at Rs 100 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for M K M Nagar. Therefore, the only revisions that provide guideline values are from 2017, 2023, and 2024, with an overall increase of +49% from 2017 to 2024.

Guideline values in Kalpakkam

In Kalpakkam, there are 21 streets under the Ponneri SRO that carry a 2024 guideline value. The guideline value for M K M Nagar is equal to the median of Rs 100 per sq.ft for this area.

• Muthu Nagar: Rs 100 per sq.ft (2024)
• Nagammal Nagar: Rs 100 per sq.ft (2024)
• Nalini Krishnan Nagar: Rs 100 per sq.ft (2024)
• Leelavathy Nagar: Rs 100 per sq.ft (2024)
• Lakshmi Nagar: Rs 100 per sq.ft (2024)
• Nithyas Garden: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in M K M Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total cost for these fees Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M K M Nagar?

The Sub Registrar Office that covers M K M Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Kalpakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration of a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. The stamp duty is calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate fees are collected during the registration process.

Frequently asked questions

What is the current guideline value of M K M Nagar?

The current guideline value of M K M Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 67 per sq.ft to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting a total increase of +49% from 2017 to 2024.

What are the guideline values of other streets in Kalpakkam?

Other streets in Kalpakkam, such as Muthu Nagar, Nagammal Nagar, and Nalini Krishnan Nagar, also have a guideline value of Rs 100 per sq.ft in 2024, which is consistent across the area.

What fees are associated with buying property in M K M Nagar?

The fees associated with buying property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for M K M Nagar?

The Ponneri Sub Registrar Office covers M K M Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more details online.