Guideline Value for M.K.N. Nagar

M.K.N. Nagar guideline value

The current guideline value of M.K.N. Nagar, located in Sevilimadu - A village under the Kanchipuram Joint II SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

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

The guideline value for M.K.N. Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This figure increased to Rs 1,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Sevilimadu - A

In Sevilimadu - A, there are 58 streets under the Kanchipuram Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is the same as the current figure for M.K.N. Nagar.

• Moogambigai Nagar: Rs 1,100 per sq.ft (2024)
• Muthusamy Nagar: Rs 1,100 per sq.ft (2024)
• Muvendar Nagar: Rs 1,100 per sq.ft (2024)
• NGO Nagar: Rs 1,100 per sq.ft (2024)
• N S N Nagar: Rs 1,100 per sq.ft (2024)
• Kuppusamy Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.K.N. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is calculated at 7%, which totals Rs 77,000, and the registration fee is charged at 2%, amounting to Rs 22,000. Together, these fees total Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The M.K.N. Nagar area is covered by the Kanchipuram Joint II Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sevilimadu - A

The guideline value plays a crucial role in the registration process of property transactions in Sevilimadu - A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of M.K.N. Nagar?

The current guideline value of M.K.N. Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty rates for properties in M.K.N. Nagar?

The stamp duty for properties in M.K.N. Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kanchipuram Joint II SRO located?

The Kanchipuram Joint II Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

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

The land classification for M.K.N. Nagar is Residential Class I Type - I, indicating its suitability for residential development.