Guideline Value for MM Nagar Phase II

MM Nagar Phase II guideline value

The current guideline value of MM Nagar Phase II is Rs 1,300 per sq.ft. This area is located in Rathinamangalam village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this region is Commercial Class I Type - II.

How the guideline value of MM Nagar Phase II has changed

Looking at the revisions, the guideline value for MM Nagar Phase II was Rs 1,300 per sq.ft in 2012. This figure remained the same in the 2023 revision. However, there was a decline to Rs 871 per sq.ft in the 2017 revision, which represented a decrease of 33%. The most recent revision in 2023 saw an increase of 49% from the 2017 figure, bringing the value back up to Rs 1,300 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street. Overall, from 2012 to 2023, the guideline value has remained unchanged at Rs 1,300 per sq.ft.

Guideline values in Rathinamangalam

Currently, there are no specific village figures provided for Rathinamangalam. MM Nagar Phase II is one of the areas under the Gooduvancheri SRO. Unfortunately, there are no other streets in Rathinamangalam listed with their guideline values.

Stamp duty and registration fee for property in MM Nagar Phase II

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for stamp duty and registration fee would be Rs 1,17,000. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MM Nagar Phase II?

The Sub Registrar Office that covers MM Nagar Phase II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Rathinamangalam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a basis for calculating these fees, ensuring that they are consistent across transactions.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. The fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of MM Nagar Phase II?

The current guideline value of MM Nagar Phase II is Rs 1,300 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, marking a decrease of 33%. It then increased back to Rs 1,300 per sq.ft in the 2023 revision, reflecting a 49% increase from the 2017 figure.

Are there any guideline values for previous revisions?

There are no figures available for the years 2002, 2003, 2007, and 2024 for MM Nagar Phase II. The only revisions with figures are from 2012, 2017, and 2023.

What are the stamp duty and registration fees for property in MM Nagar Phase II?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. This office handles registrations for properties in MM Nagar Phase II.