Guideline Value for M.M. Avenue

M.M. Avenue guideline value

The current guideline value of M.M. Avenue is Rs 7,100 per sq.ft. This street is located in Mugappair village, under the Konnur Sub Registrar Office (SRO), with a land classification of Residential Special Type - I.

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

The guideline value of M.M. Avenue has seen significant changes over the years. In 2002, the value was Rs 361 per sq.ft, which increased to Rs 397 per sq.ft in 2003. Following this, the value rose substantially to Rs 1,200 per sq.ft in 2007, marking an increase of 202%. The 2012 revision saw the value at Rs 6,500 per sq.ft, which was a decrease of 33% from the previous revision. In 2017, the value increased to Rs 4,355 per sq.ft, and then it jumped to Rs 6,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, which is a 9% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 1867%. There are no figures available for the revisions in years other than those listed.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, making M.M. Avenue's 2024 figure equal to this median.

• Mogappair Eri Scheme: Rs 7,100 per sq.ft (2024)
• Mogappair Road: Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment – 1: Rs 7,100 per sq.ft (2024)
• Mogappair Road (Segment – 1) Thirumangalam Circule to Sidco Arch: Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 2 (Sidco Arch to Mogappair East): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 3 (Wavin to Mogappair Road West Water Tank): Rs 7,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total fees would amount to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.M. Avenue?

M.M. Avenue is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of M.M. Avenue is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 361 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1867% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers M.M. Avenue?

The Konnur Sub Registrar Office covers M.M. Avenue, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of M.M. Avenue?

The land classification of M.M. Avenue is Residential Special Type - I, indicating its designated use for residential purposes.