Guideline Value for M K N Road

M K N Road guideline value

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

How the guideline value of M K N Road has changed

The guideline value for M K N Road has seen several revisions over the years. In 2007, the value was Rs 1,750 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure saw a decrease to Rs 3,350 per sq.ft in 2017. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023, followed by a further rise to Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a notable 186%, while the overall increase from 2007 to 2024 is 214%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. M K N Road's current guideline value is above this median.

• Munusamy Street: Rs 4,400 per sq.ft (2024)
• Maraimalai Adigalar Street / Panar Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)
• New Bharathiyar 1st Street: Rs 3,900 per sq.ft (2024)
• New Bharathiyar 2nd 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, making the total cost for these fees 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.

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

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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavanthangal. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the correct revenue based on the property's value.

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 from Rs 1,750 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 214% over the years.

What are the other streets in Palavanthangal with their guideline values?

Other streets in Palavanthangal include Munusamy Street at Rs 4,400 per sq.ft, Maraimalai Adigalar Street / Panar Street at Rs 3,300 per sq.ft, and Nehru Nagar Main Road at Rs 3,300 per sq.ft, among others.

What fees are associated with buying property in M K N Road?

When buying property in M K N Road, the stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

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