Guideline Value for M.S. Nagar

M.S. Nagar guideline value

The current guideline value of M.S. Nagar, located in Kattupakkam village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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

The guideline value for M.S. Nagar has undergone several revisions over the years. In 2003, the value was Rs 123 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2007. Following this, the value saw an extraordinary rise to Rs 1,900 per sq.ft in 2012, marking an increase of 443%. However, it then decreased to Rs 1,273 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,900 per sq.ft in 2023, and finally reached Rs 2,090 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,599%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the current value for M.S. Nagar.

• M.S.R. Nagar: Rs 2,090 per sq.ft (2024)
• M.R.V. Avenue: Rs 1,980 per sq.ft (2024)
• M.S.S. Nagar: Rs 3,520 per sq.ft (2024)
• Mount - Poonamallee trunk Road: Rs 4,290 per sq.ft (2024)
• Murugan koil Street: Rs 3,520 per sq.ft (2024)
• Moogambigai Nagar: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, making the total cost Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value. This ensures that the correct amount of stamp duty is calculated based on the higher value, thus complying with legal requirements.

Frequently asked questions

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

The current guideline value of M.S. Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 123 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an increase of 1,599% over this period.

What is the registration office for M.S. Nagar?

The registration office for M.S. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

The stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 20,90,000, resulting in a stamp duty of Rs 1,46,300.

What are the other streets in Kattupakkam with similar guideline values?

Other streets in Kattupakkam have various guideline values, with M.S.R. Nagar and Moogambigai Nagar both at Rs 2,090 per sq.ft, while M.S.S. Nagar and Murugan koil Street are at Rs 3,520 per sq.ft.