Guideline Value for M.S. Nagar

M.S. Nagar guideline value

The current guideline value of M.S. Nagar is Rs 4,290 per sq.ft, effective from 1 July 2024. This area is located in Porur village under the Kunrathur SRO and is classified as Mixed Special Type - II.

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

The guideline value for M.S. Nagar has undergone several revisions over the years. Starting from Rs 282 per sq.ft in 2002, it rose to Rs 312 per sq.ft in 2003, marking an increase of 11%. By 2007, the value significantly jumped to Rs 750 per sq.ft, representing a 140% increase. The value then saw a remarkable rise to Rs 3,900 per sq.ft in 2012, which was a 420% increase. However, it decreased to Rs 2,613 per sq.ft in 2017, reflecting a decline of 33%. The value then increased to Rs 3,900 per sq.ft in 2023 and further rose to the current Rs 4,290 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,421%. There are no figures available for the years between these revisions for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of M.S. Nagar is above this median.

• Mugalivakkam Road (Highways): Rs 4,290 per sq.ft (2024)
• Mount Poovai Salai: Rs 6,380 per sq.ft (2024)
• Moorthy Avenue 3rd Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 2nd Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 1st Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue: Rs 3,960 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 4,290 per sq.ft, the total guideline value would be Rs 42,90,000. The stamp duty at 7% would amount to Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, totaling Rs 3,86,100. 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.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 information.

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

The guideline value is an essential reference for property transactions in Porur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value helps ensure that the transaction is recorded at a standard value, providing a basis for taxation.

When you register a property, the guideline value serves as a benchmark for calculating the costs associated with the transaction. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of M.S. Nagar is Rs 4,290 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 282 per sq.ft in 2002 to Rs 4,290 per sq.ft in 2024, reflecting an overall increase of 1,421% over the years.

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

M.S. Nagar is classified as Mixed Special Type - II under the current land classification.

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

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a plot valued at Rs 42,90,000, the stamp duty at 7% would be Rs 3,00,300.