Guideline Value for M K N Road 1st Lane

M K N Road 1st Lane guideline value

The current guideline value of M K N Road 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of M K N Road 1st Lane has changed

The guideline value for M K N Road 1st Lane has seen several revisions over the years. In 2002, the value was Rs 516 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a change of +26%. Following this, the value rose to Rs 900 per sq.ft in 2007, a significant increase of +38%. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, down by -456%. However, the value increased again to Rs 3,350 per sq.ft in 2017, reflecting a change of +49%. The most recent revisions were in 2023 and 2024, with the value increasing from Rs 5,000 per sq.ft to Rs 5,500 per sq.ft, which is a rise of +10%.

The register has no figure for this street in the years prior to 2002, and there are no revisions with no figure for this street in it.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing the 2024 guideline value of M K N Road 1st Lane above that median.

• M K N Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• M K N Road: Rs 5,500 per sq.ft (2024)
• M K N Lane: Rs 5,500 per sq.ft (2024)
• Mount Pazhandiamman Koil Street (Pazhandiamman koil street): Rs 5,000 per sq.ft (2024)
• Mettukazhani Street 1st Lane: Rs 3,900 per sq.ft (2024)
• MettuKazhani Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in M K N Road 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers M K N Road 1st Lane?

The Sub Registrar Office that covers M K N Road 1st Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Adambakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of M K N Road 1st Lane?

The current guideline value of M K N Road 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 516 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +966% over the years.

What is the land classification for M K N Road 1st Lane?

The land classification for M K N Road 1st Lane is Commercial Class I Type - I.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office located for M K N Road 1st Lane?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.