Guideline Value

Corporate

Guideline Value for M.K.N. Road 1st Street

₹5500/sq.ft.

The guideline value for M.k.n. Road 1st Street in Parangimalai village (Chennai South Joint Ii SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Parangimalai

Village

Chennai South Joint II

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹684 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹547 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on M.k.n. Road 1st Street

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M.K.N. Road 1st Street guideline value

The current guideline value of M.K.N. Road 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of M.K.N. Road 1st Street has changed

Over the years, the guideline value of M.K.N. Road 1st Street has seen significant changes. In 2002, the guideline value was Rs 547 per sq.ft. This increased to Rs 684 per sq.ft in 2003, marking a 25% rise. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, which was a substantial increase of 163%. By 2012, the value had further increased to Rs 5,000 per sq.ft, reflecting a 178% increase from the previous revision. However, it then decreased to Rs 3,350 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value rose to Rs 5,000 per sq.ft, and in the latest revision for 2024, it stands at Rs 5,500 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 905%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of M.K.N. Road 1st Street is above this median.

Stamp duty and registration fee for property in M.K.N. Road 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers M.K.N. Road 1st Street?

The M.K.N. Road 1st Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any penalties. The registration office uses the guideline value to calculate applicable duties, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of M.K.N. Road 1st Street?

The current guideline value of M.K.N. Road 1st Street 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 547 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 905%.

What is the land classification for M.K.N. Road 1st Street?

The land classification for M.K.N. Road 1st Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which office handles registrations for M.K.N. Road 1st Street?

The registrations for M.K.N. Road 1st Street are handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.