Guideline Value for M.M. NAGAR

M.M. Nagar guideline value

The current guideline value of M.M. Nagar, located in Korukanthangal village under the Gooduvancheri SRO, is Rs 500 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

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

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This figure remained unchanged in the 2023 and 2024 revisions, where it was set at Rs 500 per sq.ft. The increase from 2017 to 2023 was 49%, and the overall increase from 2017 to 2024 is also 49%. The register has no figures for the years 2002, 2003, 2007, and 2012.

From the 2023 revision to the 2024 revision, there was no change, maintaining the guideline value at Rs 500 per sq.ft. This consistency indicates stability in the guideline value for M.M. Nagar over these recent years.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 500 per sq.ft, with a median also at Rs 500 per sq.ft. M.M. Nagar's 2024 figure is equal to this median.

• M.R. Nagar: Rs 500 per sq.ft (2024)
• M.R. Nagar Part-II: Rs 500 per sq.ft (2024)
• Muthalamman Nagar: Rs 500 per sq.ft (2024)
• Maruthi Nagar: Rs 500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 500 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total charges together Rs 45,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our 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 Korukanthangal

The guideline value is a crucial factor during the registration of property transactions in Korukanthangal. It serves as the basis for calculating the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and legally. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations 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 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in both the 2023 and 2024 revisions, marking a 49% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for a property in M.M. Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft, the total guideline value is Rs 5,00,000. The stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers M.M. Nagar?

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

How is the guideline value determined for properties in Korukanthangal?

The guideline value for properties in Korukanthangal is determined by the Registration Department's guideline value register. It is based on various factors including land classification and recent revisions.