Guideline Value for MS NAGAR

Ms Nagar guideline value

The current guideline value of Ms Nagar, located in Udaiyavarkoil village under the Poonamallee SRO, is Rs 825 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ms Nagar has changed

The guideline value for Ms Nagar has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 750 per sq.ft. This was followed by a decrease to Rs 502 per sq.ft in 2017. The 2023 revision increased the value to Rs 750 per sq.ft, and the most recent revision in 2024 has raised it to Rs 825 per sq.ft.

Between these revisions, there have been notable changes. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The 2023 to 2024 revision reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil, there are 35 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,400 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Ms Nagar is above this median.

• Mudthal board school varai: Rs 990 per sq.ft (2024)
• Nedunsalai: Rs 990 per sq.ft (2024)
• Othandeeswarar Nagar: Rs 550 per sq.ft (2024)
• Lakshmi nagar: Rs 550 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 825 per sq.ft (2024)
• Rajarathinam salai: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Ms Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, resulting in a total of Rs 74,250. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ms Nagar?

Ms Nagar falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Udaiyavarkoil. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer is required to pay stamp duty and registration fees calculated on the guideline value. This ensures that the state government receives due revenue from property transactions, reflecting the property's worth as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Ms Nagar?

The current guideline value of Ms Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024.

What is the land classification for Ms Nagar?

Ms Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Ms Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.