Guideline Value for M.K.Nagar

M.K.Nagar guideline value

The current guideline value of M.K.Nagar, located in Kerugambakkam village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

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

The guideline value for M.K.Nagar has seen several revisions over the years. The earliest recorded figure is from 2017, where it was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Kerugambakkam

In Kerugambakkam village, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current guideline value of M.K.Nagar below this median.

• M.G.R.Street (ward 9): Rs 1,980 per sq.ft (2024)
• M.G.R.Street (ward 1): Rs 1,980 per sq.ft (2024)
• Moorthy Nagar: Rs 1,760 per sq.ft (2024)
• Multi Industrial Nagar: Rs 2,750 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Muthu Ramalinga Devar Street: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.K.Nagar?

The M.K.Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of M.K.Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

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

Other streets in Kerugambakkam include M.G.R.Street (ward 9) and (ward 1) at Rs 1,980 per sq.ft, Moorthy Nagar at Rs 1,760 per sq.ft, Multi Industrial Nagar at Rs 2,750 per sq.ft, and Muthu Mariamman Koil Street and Muthu Ramalinga Devar Street both at Rs 1,980 per sq.ft.

What fees are associated with property registration in M.K.Nagar?

The fees associated with property registration in M.K.Nagar include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

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

The Pammal Sub Registrar Office handles property registrations in M.K.Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.