Guideline Value for Deepika Avenue

Deepika Avenue guideline value

The current guideline value of Deepika Avenue is Rs 580 per sq.ft, effective from 1 July 2024. This street is located in Minjur village, which falls under the Ponneri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Deepika Avenue has changed

The guideline value for Deepika Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 580 per sq.ft, which represents an increase of 8% from the 2023 revision of Rs 536 per sq.ft. The 2023 value was the same as the 2017 revision, which also recorded Rs 536 per sq.ft. There are no figures available for the years 2012, 2007, 2003, and 2002 in the register for this street.

Overall, from 2017 to 2024, the guideline value increased by 8%. This consistent increase highlights the changes in the guideline value over the years, culminating in the current rate.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Deepika Avenue's 2024 figure above this median.

• D.B.R Nagar: Rs 550 per sq.ft (2024)
• Deva Avenue: Rs 550 per sq.ft (2024)
• C.S.S. Chetty Nagar Part: Rs 440 per sq.ft (2024)
• Dhanabagyam Nagar: Rs 770 per sq.ft (2024)
• C.K.G. Nagar: Rs 550 per sq.ft (2024)
• Chozhan Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Deepika Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 580 per sq.ft, the total guideline value amounts to Rs 5,80,000. The stamp duty at 7% would be Rs 40,600, and the registration fee at 2% would be Rs 11,600, bringing the total fees together to Rs 52,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Deepika Avenue?

The Sub Registrar Office that covers Deepika Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Minjur, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value when finalizing the sale price, as the duty is charged based on the higher of the guideline value or the sale price.

Additionally, understanding the guideline value helps in ensuring compliance with the legal requirements during property registration. It provides a transparent basis for calculating the fees involved in the transaction, making the process smoother for both parties.

Frequently asked questions

What is the current guideline value of Deepika Avenue?

The current guideline value of Deepika Avenue is Rs 580 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2023 to Rs 580 per sq.ft in 2024, marking an 8% increase. The value remained the same at Rs 536 per sq.ft from 2017 to 2023.

What is the land classification for Deepika Avenue?

Deepika Avenue is classified as Residential Class II Type - II, indicating its designation for residential use within the area.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles registrations for properties in the area, including Deepika Avenue.

How is the stamp duty calculated for properties in Deepika Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 5,80,000, the stamp duty would be Rs 40,600 at 7%.