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

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

The current guideline value for Town Centre M.M.Nagar (Ward -3) is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai 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

Over the years, the guideline value for Town Centre M.M.Nagar has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft, marking a decrease of 33%. The value increased to Rs 1,600 per sq.ft in 2023, followed by a further increase to Rs 1,760 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Town Centre M.M.Nagar (Ward -3) above that median.

• T.N.H.B (Ward -8): Rs 1,321 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 660 per sq.ft (2024)
• Thriuvalluvar Street (Village Colony) (Kr): Rs 440 per sq.ft (2024)
• Thondaiman Street (Ward -5): Rs 1,321 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 would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. Duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Town Centre M.M.Nagar (Ward -3)?

The Sub Registrar Office covering Town Centre M.M.Nagar (Ward -3) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ninna Karai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

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 and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Town Centre M.M.Nagar?

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, Chengalpattu registration zone.

How is the stamp duty calculated for property in Town Centre M.M.Nagar?

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