Guideline Value for M.M.SWAMY NAGAR

M.M.Swamy Nagar guideline value

The current guideline value for M.M.Swamy Nagar, located in Minjur village under the Ponneri SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of M.M.Swamy Nagar has changed

The guideline value for M.M.Swamy Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 800 per sq.ft. Prior to that, in 2017, the guideline value was Rs 536 per sq.ft. This indicates a significant increase of 49% from 2017 to 2023, and an overall increase of 64% from 2017 to 2024.

It is important to note that the register has no figures for M.M.Swamy Nagar for the years 2002, 2003, 2007, and 2012. Therefore, the changes in guideline value are only reflected from 2017 onwards.

Guideline values in Minjur

In Minjur village, 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 value among these streets is Rs 550 per sq.ft, making the guideline value of M.M.Swamy Nagar above that median.

• Minjur New Town: Rs 440 per sq.ft (2024)
• M.S.Avenue Phase I&ii: Rs 550 per sq.ft (2024)
• Murali Nagar: Rs 1,320 per sq.ft (2024)
• Murugan Avenue: Rs 550 per sq.ft (2024)
• M.V.L.Nagar: Rs 880 per sq.ft (2024)
• Nadu Theru: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in M.M.Swamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration fee would be Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.M.Swamy Nagar?

The Sub Registrar Office that covers M.M.Swamy Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more details, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the authorities will assess the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the necessary taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of M.M.Swamy Nagar?

The current guideline value of M.M.Swamy Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for M.M.Swamy Nagar?

The registration office for M.M.Swamy Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in M.M.Swamy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.

What are the guideline values of other streets in Minjur?

Other streets in Minjur have varying guideline values. For instance, Minjur New Town has a guideline value of Rs 440 per sq.ft, while Murali Nagar has a value of Rs 1,320 per sq.ft in 2024.