Guideline Value for M.S. Nagar

M.S. Nagar guideline value

The current guideline value of M.S. Nagar, located in Keelakazhani village under the Gooduvancheri SRO, is Rs 700 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.S. Nagar has changed

Over the years, the guideline value of M.S. Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 140 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 400% rise. However, in the subsequent revision of 2017, the value dropped to Rs 469 per sq.ft, a decrease of 33%. From 2017 to 2023, the value increased by 49%, bringing it back to Rs 700 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median value of Rs 700 per sq.ft. M.S. Nagar's 2024 guideline value aligns with this median.

• Mahalakshmi Nagar Phase-II: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase-I: Rs 700 per sq.ft (2024)
• Kuberra Nagar: Rs 700 per sq.ft (2024)
• Peruvazhi Nagar: Rs 700 per sq.ft (2024)
• Power Avenue: Rs 700 per sq.ft (2024)
• Ragavendra Garden: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in M.S. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, while the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.S. Nagar?

The Sub Registrar Office that covers M.S. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Keelakazhani. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When engaging in a property transaction, both parties must consider the guideline value to avoid any discrepancies during the registration process. It ensures that the transaction is recorded accurately and that the appropriate fees are paid based on the established values.

Frequently asked questions

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

The current guideline value of M.S. 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 changed from Rs 140 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

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

The land classification for M.S. Nagar is Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 700 per sq.ft, the total guideline value is Rs 7,00,000, leading to a stamp duty of Rs 49,000.