Guideline Value for M.G.A Avenue

M.G.A Avenue guideline value

The current guideline value of M.G.A Avenue is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Agaram Male village, under the Poonamallee SRO, and is classified as Residential Special Type - I.

How the guideline value of M.G.A Avenue has changed

The guideline value for M.G.A Avenue has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 700 per sq.ft. This value remained the same until the next revision in 2017, where it decreased to Rs 469 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then further rose to Rs 770 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaram Male

Agaram Male village has a total of 21 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is the same as the current value for M.G.A Avenue.

• M.G.M Nagar: Rs 770 per sq.ft (2024)
• Murugesan Nagar: Rs 770 per sq.ft (2024)
• Lakshmi Nagar: Rs 770 per sq.ft (2024)
• Pachaivarana Perumal Koil Street: Rs 550 per sq.ft (2024)
• Pushpha Nagar: Rs 770 per sq.ft (2024)
• Sannathi Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.A Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.A Avenue?

The Sub Registrar Office that covers M.G.A Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Agaram Male. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value is set by the government and reflects the minimum value at which properties can be registered.

When selling a property, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures transparency in property transactions and helps maintain accurate records for taxation purposes.

Frequently asked questions

What is the current guideline value of M.G.A Avenue?

The current guideline value of M.G.A Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for M.G.A Avenue?

M.G.A Avenue is classified as Residential Special Type - I under the Poonamallee SRO.

What are the stamp duty and registration fees for property in M.G.A Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 69,300.

Which Sub Registrar Office covers M.G.A Avenue?

The Poonamallee Sub Registrar Office covers M.G.A Avenue, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.