Guideline Value for M.S.Nagar

M.S.Nagar guideline value

The current guideline value for M.S.Nagar in Ayappakkam village, under the Ambattur SRO, is Rs 1,300 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 of M.S.Nagar has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, this was followed by a significant decrease to Rs 804 per sq.ft in 2017. The value then rose sharply to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. Notably, there are no figures for this street in the register for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision reflects an 8% increase. Overall, from 2007 to 2024, the guideline value has risen by 63%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. M.S.Nagar's 2024 guideline value is equal to this median.

• Mullai Nagar: Rs 1,100 per sq.ft (2024)
• Mullai street: Rs 1,700 per sq.ft (2024)
• Mullai Street(Iyappan nagar extn.): Rs 1,700 per sq.ft (2024)
• Murugan Koil 1st Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil Street (Iyappan nagar): Rs 1,700 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 our 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ayappakkam. It serves as the basis for calculating stamp duty and registration fees during the property registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is registered, the guideline value is used to determine the minimum value at which the property can be sold. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

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

The current guideline value for M.S.Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. The overall increase from 2007 to 2024 is 63%.

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

M.S.Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty for property in M.S.Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.