Guideline Value for TOWN CENTRE M.M.NAGAR (WARD -3)

Town Centre M.M.Nagar (Ward -3) guideline value

The current guideline value of Town Centre M.M.Nagar (Ward -3) is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Town Centre M.M.Nagar (Ward -3) has changed

The guideline value for Town Centre M.M.Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 1,600 per sq.ft, which decreased to Rs 1,072 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023. The latest revision in 2024 has raised the guideline value to Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

When looking at the changes, the 2023 to 2024 revision reflects a 10% increase. The jump from 2017 to 2023 was a substantial 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the 2024 guideline value of Town Centre M.M.Nagar above this median.

• Travancore Residency: Rs 1,980 per sq.ft (2024)
• T.N.H.B (Ward -8): Rs 1,320 per sq.ft (2024)
• Thulukkanathamman Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Udaiyar Street Ninnakkarai (Ward -19): Rs 660 per sq.ft (2024)
• Udaiyar Street (Ward -18): Rs 550 per sq.ft (2024)
• Thriuvalluvar Street (Village Colony) (Kr): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Town Centre M.M.Nagar (Ward -3)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be Rs 1,58,400. 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 Town Centre M.M.Nagar (Ward -3)?

The Sub Registrar Office that covers Town Centre M.M.Nagar (Ward -3) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

You can find your SRO for additional assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Town Centre M.M.Nagar (Ward -3)?

The current guideline value of Town Centre M.M.Nagar (Ward -3) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,600 per sq.ft in 2012 to Rs 1,760 per sq.ft in 2024, reflecting a 10% increase overall from 2012 to 2024.

What is the land classification for Town Centre M.M.Nagar (Ward -3)?

The land classification for Town Centre M.M.Nagar (Ward -3) is Residential Special Type - III.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kattankollatur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at a rate of 7%.