Guideline Value for M.M.NAGAR

M.M.Nagar guideline value

The current guideline value of M.M.Nagar, located in Mamandoor village under the Chengleput Joint II SRO, is Rs 800 per sq.ft, 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

Over the years, the guideline value of M.M.Nagar has seen various revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 800 per sq.ft. The next revision in 2024 continued this trend, maintaining the value at Rs 800 per sq.ft, reflecting a change of +0% from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Looking further back, the 2017 revision recorded a lower value of Rs 536 per sq.ft, indicating a significant increase of +49% when compared to the 2023 revision. However, from 2012 to 2017, there was a decrease of -33%. Overall, from 2012 to 2024, the guideline value has remained stable with a change of +0%.

Guideline values in Mamandoor

Mamandoor village comprises 41 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 300 to Rs 1,200 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing M.M.Nagar's 2024 figure above this median.

• Mtc Nagar: Rs 800 per sq.ft (2024)
• Maruthamalai M.T.C Nagar: Rs 500 per sq.ft (2024)
• Magalakshminagar Phase-I,Phase-II,Phase-III: Rs 500 per sq.ft (2024)
• N.T.R Garden: Rs 800 per sq.ft (2024)
• Pallava Nagar: Rs 400 per sq.ft (2024)
• K.R. Nagar Extn: Rs 800 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 rate of Rs 800 per sq.ft, the 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 fees together to Rs 72,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use 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 Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mamandoor. It is the benchmark used by the registration authorities to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the guideline value is used to calculate these fees, ensuring that they are prepared for the associated costs.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value as determined by the authorities. This helps maintain transparency in property transactions and ensures that all parties are aware of the financial obligations involved in the sale.

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?

Since 2012, the guideline value has fluctuated, with the 2012 value at Rs 800 per sq.ft, decreasing to Rs 536 per sq.ft in 2017, and then returning 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 - I, indicating its designated use for residential purposes.

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, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 and the registration fee would be Rs 16,000, totaling Rs 72,000.