Guideline Value for M.S.K. NAGAR

M.S.K. Nagar guideline value

The current guideline value of M.S.K. Nagar, located in Melavalam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

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

Over the years, the guideline value of M.S.K. Nagar has seen several revisions. The 2007 revision set the value at Rs 40 per sq.ft, which increased to Rs 100 per sq.ft in 2012. In the 2017 revision, the value rose significantly to Rs 67 per sq.ft, marking a 150% increase from the previous revision. The 2023 revision maintained the value at Rs 200 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 199%. The overall change from 2007 to 2024 reflects a substantial increase of 400%. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Melavalam

In Melavalam, there are 20 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft, with a median value of Rs 350 per sq.ft. M.S.K. Nagar's 2024 figure is below this median.

• Ramya Reng & Ramya Ramaa: Rs 200 per sq.ft (2024)
• R. R. Nagar: Rs 200 per sq.ft (2024)
• Saranya Nagar: Rs 250 per sq.ft (2024)
• Sri Mari Amman Nagar: Rs 405 per sq.ft (2024)
• Central Government Staffs Co-Op Nagar: Rs 200 per sq.ft (2024)
• A.V. Nagar: Rs 200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, resulting in a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.S.K. Nagar?

The M.S.K. Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Melavalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair price for the transaction, as it reflects the official valuation set by the government. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

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

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

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

The Sub Registrar Office covering M.S.K. Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 14,000.