Guideline Value for MAC NAGAR

Mac Nagar guideline value

The current guideline value of Mac Nagar, located in Kattupakkam village under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Mac Nagar has changed

Over the years, the guideline value of Mac Nagar has seen several revisions. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. The 2023 revision increased it to Rs 3,600 per sq.ft, and the latest revision in 2024 has raised it further to Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been a modest increase of 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattupakkam

Kattupakkam village has 75 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Mac Nagar's 2024 figure above this median.

• Machine Road: Rs 2,090 per sq.ft (2024)
• Lurthupuram Road: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,090 per sq.ft (2024)
• Kundrathur Road: Rs 4,290 per sq.ft (2024)
• Maruthi Nagar: Rs 3,520 per sq.ft (2024)
• Kumaran Nagar: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Mac Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mac Nagar?

The Sub Registrar Office that covers Mac Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kattupakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Mac Nagar?

The current guideline value of Mac Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, representing a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What is the land classification of Mac Nagar?

Mac Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in Mac Nagar?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200, and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in Mac Nagar.