Guideline Value for MKS NAGAR

Mks Nagar guideline value

The current guideline value of Mks Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Bathoor village and falls under the Madurandakam SRO with a land classification of Mixed Type - I.

How the guideline value of Mks Nagar has changed

The guideline value of Mks Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 150 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 100 per sq.ft. The value then increased by 50% to Rs 150 per sq.ft in 2023, and it has remained the same in the 2024 revision, showing no change from the previous year.

Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen no net change, remaining at Rs 150 per sq.ft.

Guideline values in Bathoor

In addition to Mks Nagar, there are other streets in Bathoor under the Madurandakam SRO. The guideline values for these streets vary, with Mks Nagar currently at Rs 150 per sq.ft.

• Udhayam Nagar: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Mks Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty is charged at 7%, which totals Rs 10,500, and the registration fee is charged at 2%, amounting to Rs 3,000. Together, the total cost for stamp duty and registration fee is Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mks Nagar?

The Mks Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Bathoor. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This value is essential for both buyers and sellers to understand the financial obligations associated with property registration.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mks Nagar?

The current guideline value of Mks Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 150 per sq.ft. The value was Rs 100 per sq.ft in 2017, and it increased by 50% in 2023 to Rs 150 per sq.ft.

What are the stamp duty and registration fees for Mks Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 10,500 and the registration fee is Rs 3,000, making a total of Rs 13,500. These fees are based on the guideline value of Rs 1,50,000.

Which Sub Registrar Office manages Mks Nagar?

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

Are there other streets in Bathoor with different guideline values?

Yes, there are other streets in Bathoor with varying guideline values. For instance, Udhayam Nagar has a guideline value of Rs 101 per sq.ft as per the latest revision.