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 Sattamangalam 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

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft. The value then increased significantly to Rs 1,600 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,760 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value rose by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Town Centre M.M.Nagar (Ward -3) is 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 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, resulting in a total of Rs 1,58,400. 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 more details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duty are calculated based on the guideline value or the actual sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is documented accurately in the registration records. This process aids in maintaining transparency and legality in property dealings, ensuring that all parties are aware of the official value assigned to the property.

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 seen various changes, starting from Rs 1,600 per sq.ft in 2012, decreasing to Rs 1,072 per sq.ft in 2017, and then increasing to Rs 1,600 per sq.ft in 2023, before reaching Rs 1,760 per sq.ft in 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 Sub Registrar Office?

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

How is stamp duty calculated for property in Town Centre M.M.Nagar (Ward -3)?

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