Guideline Value for MKM CITY

Mkm City guideline value

The current guideline value for Mkm City in Seevaadi village, under the Madurandakam SRO, is Rs 151 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Mkm City has changed

The guideline value for Mkm City has seen several revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 100 per sq.ft. This increased to Rs 67 per sq.ft in 2017, then rose significantly to Rs 150 per sq.ft in 2023, and currently stands at Rs 151 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 124% from 2017 to 2023. The overall change from 2012 to 2024 reflects an increase of 51%.

Guideline values in Seevaadi

In Seevaadi, there are 9 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft, with the median value being Rs 151 per sq.ft. Mkm City's 2024 figure matches this median.

• Pragathi Garden: Rs 150 per sq.ft (2024)
• Royal City: Rs 200 per sq.ft (2024)
• Sai Nagar: Rs 100 per sq.ft (2024)
• Family Park: Rs 151 per sq.ft (2024)
• Sundaram Garden: Rs 200 per sq.ft (2024)
• Varsha Garden: Rs 121 per sq.ft (2024)

Stamp duty and registration fee for property in Mkm City

For a 1,000 sq.ft plot at the current guideline value of Rs 151 per sq.ft, the total guideline value would be Rs 1,51,000. The stamp duty at 7% would amount to Rs 10,570, and the registration fee at 2% would be Rs 3,020, bringing the total to Rs 13,590. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Mkm City?

The Madurandakam Sub Registrar Office covers Mkm City. The office is 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 Seevaadi

The guideline value is a crucial factor during the registration of property transactions in Seevaadi. It is used to determine the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark for assessing the value of the property. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the registration process is aligned with the official value set by the authorities.

Frequently asked questions

What is the current guideline value of Mkm City?

The current guideline value of Mkm City is Rs 151 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 151 per sq.ft in 2024, with significant changes occurring in the intervening years.

What is the land classification for Mkm City?

The land classification for Mkm City is Residential Special Type - I.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mkm City?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 1,51,000 would incur a stamp duty of Rs 10,570 at 7%.