Guideline Value for M.M Nagar Extn-I

M.M Nagar Extn-I guideline value

The current guideline value of M.M Nagar Extn-I is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Naduveerapattu village, under the Padappai SRO, and is classified as Residential Special Type - II.

How the guideline value of M.M Nagar Extn-I has changed

The guideline value for M.M Nagar Extn-I has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 770 per sq.ft, reflecting a growth of 10% 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 recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing M.M Nagar Extn-I's 2024 value above this median.

• M.M Nagar: Rs 550 per sq.ft (2024)
• Mettis: Rs 550 per sq.ft (2024)
• Metbeev Nagar: Rs 550 per sq.ft (2024)
• Malar Nagar: Rs 2,010 per sq.ft (2024)
• Madha Nagar: Rs 440 per sq.ft (2024)
• N.M.Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in M.M Nagar Extn-I

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.M Nagar Extn-I?

The M.M Nagar Extn-I falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Naduveerapattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that all parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of M.M Nagar Extn-I?

The current guideline value of M.M Nagar Extn-I is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 770 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in M.M Nagar Extn-I?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations in M.M Nagar Extn-I?

The Padappai Sub Registrar Office handles property registrations for M.M Nagar Extn-I, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, which in turn affects the stamp duty and registration fees that must be paid during property transactions.