Guideline Value for M.M Nagar

M.M Nagar guideline value

The current guideline value of M.M Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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 2017 revision, the value was set at Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 raised the value further to Rs 550 per sq.ft, reflecting 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 M.M Nagar 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 the 2024 guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value in this village is Rs 660 per sq.ft, placing M.M Nagar's current value below that median.

• M.M Nagar Extn-I: Rs 770 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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, and the registration fee, charged at 2%, would be Rs 11,000. Together, the total cost for these charges would be Rs 49,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers M.M Nagar?

The Sub Registrar Office that covers M.M Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Naduveerapattu, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Ensuring compliance with the guideline value helps in avoiding any legal issues during the registration process.

Frequently asked questions

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

The current guideline value of M.M Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the land classification of M.M Nagar?

M.M Nagar is classified as Residential Class I Type - I according to the land classification records.

Where can I find the Sub Registrar Office for M.M Nagar?

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

How is 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, on a property with a guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.