Guideline Value for M.M NAGAR

M.M Nagar guideline value

The current guideline value of M.M Nagar, located in Kavanur village under the Gooduvancheri SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of M.M Nagar has changed

The guideline value for M.M Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft, marking a decline of 33%. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 800 per sq.ft. The 2023 revision maintained this value, and the 2024 revision also set the guideline value at Rs 800 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, when looking at the period from 2012 to 2024, the guideline value has remained stable at Rs 800 per sq.ft.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO that carry a guideline value for 2024, ranging from Rs 500 to Rs 2,239 per sq.ft. The median value is Rs 800 per sq.ft, which is equal to the guideline value of M.M Nagar.

• Nachiar Avenue: Rs 1,000 per sq.ft (2024)
• Nedunsalai Thittam Nagar-6: Rs 800 per sq.ft (2024)
• Nehru Nagar: Rs 800 per sq.ft (2024)
• NEW Chennai City: Rs 800 per sq.ft (2024)
• New Chennai City Phase - I: Rs 670 per sq.ft (2024)
• Padavattamman Koil Street: Rs 747 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.M Nagar?

The Sub Registrar Office that covers M.M Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kavanur. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is properly documented and taxed.

When a property is sold, the guideline value serves as a benchmark to assess the worth of the property for legal and taxation purposes. This ensures transparency in property transactions and helps maintain a standardized approach to property valuation in the region.

Frequently asked questions

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

The current guideline value of M.M Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a decrease to Rs 536 per sq.ft in 2017, followed by a return to Rs 800 per sq.ft in 2023 and 2024.

What is the land classification for M.M Nagar?

The land classification for M.M Nagar is Residential Special Type - III.

Which Sub Registrar Office covers the registration for M.M Nagar?

The Gooduvancheri Sub Registrar Office covers the registration for M.M Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 at 7%.