Guideline Value for M.S.M. Nagar

M.S.M. Nagar guideline value

The current guideline value of M.S.M. Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

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

Over the years, the guideline value of M.S.M. Nagar has seen significant changes. In 2002, the guideline value was Rs 64 per sq.ft. This increased to Rs 328 per sq.ft in 2007, marking a rise of 413%. The value then jumped to Rs 1,500 per sq.ft in 2012, showing a substantial increase of 357%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The guideline value then rose again to Rs 1,500 per sq.ft in 2023, and it remained unchanged in the 2024 revision.

From 2017 to 2023, the value increased by 49%. Overall, from 2002 to 2024, the guideline value has increased by 2,244%. It is important to note that there is no figure available for the year 2003 in the register for this street.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value for M.S.M. Nagar.

• Muthatamil Street: Rs 1,000 per sq.ft (2024)
• Muthumariammankovil Street: Rs 1,500 per sq.ft (2024)
• M.G. Nagar Part-IA: Rs 1,500 per sq.ft (2024)
• Nagarajapuram: Rs 1,200 per sq.ft (2024)
• Mettu Street: Rs 1,200 per sq.ft (2024)
• Nandheswarar Avenue: Rs 1,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The M.S.M. Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

The guideline value plays a crucial role in the registration process when buying or selling property in Nandhivaram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Additionally, the guideline value serves as a reference point for property transactions, helping to establish a baseline for pricing. This ensures that both parties are informed about the financial implications of the sale or purchase.

Frequently asked questions

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

The current guideline value of M.S.M. Nagar is Rs 1,500 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 64 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 2,244%.

What is the registration fee for property in M.S.M. Nagar?

The registration fee is calculated at 2% of the guideline value. For a 1,000 sq.ft plot at the current rate, the registration fee would be Rs 30,000.

Which office handles registrations for M.S.M. Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for M.S.M. Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202.

How is the stamp duty calculated for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,05,000 based on the current guideline value.