Guideline Value for M K N Road

M K N Road guideline value

The current guideline value of M K N Road in Adambakkam village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Commercial Class I Type - I.

How the guideline value of M K N Road has changed

The guideline value of M K N Road has undergone several revisions since 2002. In 2002, the value was Rs 607 per sq.ft, which increased to Rs 716 per sq.ft in 2003. Following this, the value saw significant growth, reaching Rs 1,800 per sq.ft in 2007, and then Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017, before rising again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the value increased by 18%. The rise from 2003 to 2007 was 151%, followed by an increase of 178% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, but saw a substantial increase of 49% from 2017 to 2023. Finally, the jump from 2023 to 2024 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 806%.

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, making the guideline value of M K N Road above this median.

• M K N Lane: Rs 5,500 per sq.ft (2024)
• M K N Road 1st Lane: Rs 5,500 per sq.ft (2024)
• M K N Road 2nd 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

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, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M K N Road?

The Sub Registrar Office that covers M K N Road 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 critical factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value when negotiating sale prices, as it directly impacts the costs associated with the transaction.

Frequently asked questions

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

The current guideline value of M K N Road 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 significantly from Rs 607 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 806% over this period.

What are the stamp duty and registration fees for property in M K N Road?

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.

Which Sub Registrar Office covers M K N Road?

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

Where can I find more information about guideline values in Adambakkam?

For more information about guideline values in Adambakkam, you can refer to the official registration department's guideline value register or consult the local Sub Registrar Office.