Guideline Value for M.N.Avenue

M.N.Avenue guideline value

The current guideline value of M.N.Avenue is Rs 2,000 per sq.ft, as per the 2023 revision. This street is located in Urapakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Mixed Special Type - I.

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

Over the years, the guideline value of M.N.Avenue has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the value increased significantly to Rs 2,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, comparing the 2012 and 2023 revisions, the guideline value has remained constant at Rs 2,000 per sq.ft, indicating no change over this period. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Urapakkam

While specific figures for other streets in Urapakkam are not provided, M.N.Avenue currently holds a guideline value of Rs 2,000 per sq.ft. This value is essential for property transactions in the area.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.N.Avenue?

The Sub Registrar Office that covers M.N.Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Urapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This means that the final amount payable will depend on the higher of the guideline value or the agreed sale price, ensuring that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

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

The current guideline value of M.N.Avenue is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then back to Rs 2,000 per sq.ft in 2023. This reflects a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

What are the stamp duty and registration fees for properties on M.N.Avenue?

For a 1,000 sq.ft plot at the current guideline value of Rs 20,00,000, the stamp duty is Rs 1,40,000 and the registration fee is Rs 40,000, totaling Rs 1,80,000.

Which Sub Registrar Office handles M.N.Avenue?

The Gooduvancheri Sub Registrar Office handles M.N.Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

Is there a guideline value for Urapakkam village?

While there are no specific guideline values for other streets in Urapakkam provided, M.N.Avenue has a guideline value of Rs 2,000 per sq.ft as of the 2023 revision.