Guideline Value for M.T.C. NAGAR (PA)

M.T.C. Nagar (Pa) guideline value

The current guideline value of M.T.C. Nagar (Pa) is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of M.T.C. Nagar (Pa) has changed

The guideline value for M.T.C. Nagar (Pa) has seen several revisions over the years. In the 2012 revision, the value was set at Rs 900 per sq.ft, which decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and then rose to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is +10%. The 2017 to 2023 revision saw a notable increase of 49%, while the 2012 to 2017 revision experienced a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, which aligns with the 2024 figure for M.T.C. Nagar (Pa).

• Mullai Nagar (Kr): Rs 440 per sq.ft (2024)
• Mosqure Street (Ward -17): Rs 550 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 440 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 550 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in M.T.C. Nagar (Pa)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.T.C. Nagar (Pa)?

The Sub Registrar Office that covers M.T.C. Nagar (Pa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Panangottur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the guideline value, as it influences the financial obligations associated with property transactions. The registration office relies on these values to facilitate accurate and fair processing of property registrations.

Frequently asked questions

What is the current guideline value of M.T.C. Nagar (Pa)?

The current guideline value of M.T.C. Nagar (Pa) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and currently stands at Rs 990 per sq.ft in 2024.

What is the land classification of M.T.C. Nagar (Pa)?

M.T.C. Nagar (Pa) is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 9,90,000, the stamp duty is Rs 69,300 and the registration fee is Rs 19,800, totaling Rs 89,100. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for M.T.C. Nagar (Pa)?

The Sub Registrar Office for M.T.C. Nagar (Pa) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.