Guideline Value for M.M.NAGAR

M.M.Nagar guideline value

The current guideline value of M.M.Nagar, located in Agaramthen village, is Rs 830 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification. The property is registered at the Tambaram Joint 1 SRO.

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

The guideline value for M.M.Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 750 per sq.ft, which then decreased to Rs 502 per sq.ft in 2017. Following this, the value increased significantly to Rs 750 per sq.ft in 2023, and further rose to Rs 830 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the values from 2012 to 2024, there has been an 11% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village features 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value is Rs 830 per sq.ft, which is equal to the current value of M.M.Nagar.

• M.M. Nagar Phase-2: Rs 1,430 per sq.ft (2024)
• Monisha Avenue: Rs 1,760 per sq.ft (2024)
• M.G.R. Street: Rs 440 per sq.ft (2024)
• Muthu Mariamman Street: Rs 830 per sq.ft (2024)
• Mayana Salai (West): Rs 830 per sq.ft (2024)
• Mayana Salai (East): Rs 830 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. It is important to note that 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 information.

Which Sub Registrar Office covers M.M.Nagar?

The M.M.Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value plays a crucial role during the registration of property transactions in Agaramthen. It serves as a benchmark to determine the minimum value for which a property can be registered, ensuring that the transaction reflects a fair value for both the buyer and seller.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

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

The current guideline value of M.M.Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

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

M.M.Nagar falls under the Residential Class I Type - II land classification.

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

The Sub Registrar Office covering M.M.Nagar is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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, a 1,000 sq.ft plot at Rs 830 per sq.ft incurs a total guideline value of Rs 8,30,000.