Guideline Value for M.M.NAGAR

M.M.Nagar guideline value

The current guideline value of M.M.Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Polambakkam village under the Madurandakam SRO, classified as Mixed Type - III land.

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 2012, the value was set at Rs 150 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 100 per sq.ft. The value increased by 50% to Rs 150 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 150 per sq.ft.

Guideline values in Polambakkam

In Polambakkam, there are 14 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. M.M.Nagar's current guideline value is below this median.

• Kannaguru Nagar: Rs 275 per sq.ft (2024)
• Priya Garden: Rs 275 per sq.ft (2024)
• Greenary Farms: Rs 400 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 103 per sq.ft (2024)
• Sri Jaya Avenue: Rs 275 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 100 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 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. 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 more details.

Which Sub Registrar Office covers M.M.Nagar?

The Sub Registrar Office that covers M.M.Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Polambakkam. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When you register a property, the guideline value ensures that the transaction is documented at a price that reflects the official valuation of the land. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

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

The current guideline value of M.M.Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for M.M.Nagar has remained at Rs 150 per sq.ft since 2012, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023 and 2024.

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

M.M.Nagar is classified as Mixed Type - III land according to the local regulations.

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

The Sub Registrar Office covering M.M.Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for property in M.M.Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 150 per sq.ft incurs a stamp duty of Rs 10,500.