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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street 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 value was Rs 1,600 per sq.ft. This figure remained the same until the next revision in 2017, where it decreased to Rs 1,072 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, followed by a further increase to Rs 1,760 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%. The value then rose by 49% from 2017 to 2023, and subsequently, there was a 10% increase from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 990 per sq.ft, placing the 2024 figure for Town Centre M.M.Nagar above this median.

• 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)
• Thondaiman Street (Ward -5): Rs 1,320 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 our 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 more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established values for each locality.

When buying or selling property, the guideline value is used to protect both the buyer and seller by providing a standardized value that reflects the current market conditions. This helps in maintaining transparency and fairness in 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 increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office handles registrations for this area?

The Chengleput Joint II Sub Registrar Office handles registrations for Town Centre M.M.Nagar (Ward -3), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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.