Guideline Value for M.M.NAGAR

M.M.Nagar guideline value

The current guideline value of M.M.Nagar in Anumandhapuram village, under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Mixed Type - II land classification.

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

The guideline value for M.M.Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, in 2017, the value was reduced to Rs 469 per sq.ft. The 2023 revision brought the value back to Rs 700 per sq.ft, and this value has been maintained in the 2024 revision, reflecting a change of +0% from 2023 to 2024. Overall, from 2012 to 2024, there has been no change in the guideline value.

Looking at the changes between the revisions, the guideline value increased by 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%. It is important to note that the register has no figure for M.M.Nagar for the years 2002, 2003, and 2007.

Guideline values in Anumandhapuram

Anumandhapuram has 12 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,200 per sq.ft. The median value among these streets is Rs 402 per sq.ft, positioning M.M.Nagar's 2024 figure above this median.

• Kanaga Raman Avenue: Rs 400 per sq.ft (2024)
• Senthamizh Nagar: Rs 400 per sq.ft (2024)
• Shridi Sai Nagar: Rs 402 per sq.ft (2024)
• Aanantham Nagar: Rs 200 per sq.ft (2024)
• Veerabathira Nagar: Rs 401 per sq.ft (2024)
• Viswanatha Puram: Rs 401 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers M.M.Nagar?

The Sub Registrar Office that covers M.M.Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Anumandhapuram

The guideline value is a crucial factor during the registration process when buying or selling property in Anumandhapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of M.M.Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 700 per sq.ft in 2024. It was Rs 469 per sq.ft in 2017, and Rs 700 per sq.ft in 2012.

What is the land classification for M.M.Nagar?

M.M.Nagar falls under the Mixed Type - II land classification, which indicates the type of land usage permitted in this area.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in M.M.Nagar.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at 7%.