Guideline Value for M.M.Nagar

M.M.Nagar guideline value

The current guideline value of M.M.Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - I.

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

The guideline value for M.M.Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 500 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then increased substantially to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for M.M.Nagar.

• Mohamed quarters: Rs 2,200 per sq.ft (2024)
• Mohana nagar: Rs 2,200 per sq.ft (2024)
• Mudthal board school varai: Rs 2,200 per sq.ft (2024)
• MGR nagar: Rs 2,200 per sq.ft (2024)
• MG nagar: Rs 4,950 per sq.ft (2024)
• Mulla thottam: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. 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 information.

Which Sub Registrar Office covers M.M.Nagar?

The Sub Registrar Office that covers M.M.Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Poonthamallee. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are informed of the financial obligations involved in the transaction, making the process transparent and straightforward.

Frequently asked questions

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

The current guideline value of M.M.Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

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

M.M.Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

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

Stamp duty in M.M.Nagar is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.