Guideline Value for M.A.M NAGAR

M.A.M Nagar guideline value

The current guideline value of M.A.M Nagar, located in Mudichur village under the Padappai SRO, is Rs 3,630 per sq.ft. This value is effective from the 1st of July 2024 and falls under the Commercial Class I Type - I land classification.

How the guideline value of M.A.M Nagar has changed

The guideline value of M.A.M Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,300 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 2,211 per sq.ft. The 2023 revision then increased the value to Rs 3,300 per sq.ft, followed by a further increase of 10% to the current rate of Rs 3,630 per sq.ft in 2024.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that M.A.M Nagar's 2024 figure is above this median.

• Mahalakshmi Street: Rs 1,760 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,760 per sq.ft (2024)
• Maruthi Nagar: Rs 2,200 per sq.ft (2024)
• Madhanapuram: Rs 2,200 per sq.ft (2024)
• Mayana Salai: Rs 1,210 per sq.ft (2024)
• Lingam Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in M.A.M Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value would be Rs 36,30,000. The stamp duty at 7% would amount to Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total to Rs 3,26,700. 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 detailed calculations.

Which Sub Registrar Office covers M.A.M Nagar?

The Sub Registrar Office that covers M.A.M Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Mudichur, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately.

The guideline value helps in establishing a fair price for the property, which is essential for both buyers and sellers. It is important to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of M.A.M Nagar?

The current guideline value of M.A.M Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,630 per sq.ft in 2024, marking a 10% increase. It was Rs 2,211 per sq.ft in 2017 and Rs 3,300 per sq.ft in 2012.

What are the stamp duty and registration fees for property in M.A.M Nagar?

For a property valued at Rs 36,30,000, the stamp duty is Rs 2,54,100 and the registration fee is Rs 72,600, totaling Rs 3,26,700. These fees are based on the guideline value.

Which office handles property registrations in M.A.M Nagar?

The Padappai Sub Registrar Office handles property registrations in M.A.M Nagar. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded at a fair price and helps avoid discrepancies in the registration process.