Guideline Value for M.K.M.Nagar

M.K.M.Nagar guideline value

The current guideline value of M.K.M.Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

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

The guideline value for M.K.M.Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking an 8% rise. The 2023 figure was significantly higher than the Rs 804 per sq.ft recorded in 2017, which reflects a 49% increase over that period. The 2012 revision also had a value of Rs 1,200 per sq.ft, but there was a decrease of 33% when compared to the 2017 figure.

Notably, the guideline value for M.K.M.Nagar has seen an overall increase of 8% from the 2012 figure of Rs 1,200 per sq.ft to the current value in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Within Puthagaram village, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for M.K.M.Nagar is below this median.

• Mathavan Nagar anex: Rs 2,200 per sq.ft (2024)
• Mathavan Nagar: Rs 2,200 per sq.ft (2024)
• Magathma ganthi Nagar: Rs 1,300 per sq.ft (2024)
• Nethaji Aveanu: Rs 1,800 per sq.ft (2024)
• Lakshmi Nagar anex: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 further calculations.

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

M.K.M.Nagar falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, and from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023. The overall change from 2012 to 2024 is an increase of 8%.

What is the land classification for M.K.M.Nagar?

M.K.M.Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use.

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

The Ambattur Sub Registrar Office covers M.K.M.Nagar and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in M.K.M.Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.