Guideline Value for M.N.GARDEN PHASE II

M.N.Garden Phase II guideline value

The current guideline value for M.N.Garden Phase II in Vannipakkam village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of M.N.Garden Phase II has changed

The guideline value for M.N.Garden Phase II has seen revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 250 per sq.ft, which remained unchanged in the 2024 revision.

From 2023 to 2024, there was no percentage change, as the guideline value remained at Rs 250 per sq.ft. This consistency indicates stability in the valuation for this property in recent years.

Guideline values in Vannipakkam

In Vannipakkam, there are seven streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 200 to Rs 250 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing M.N.Garden Phase II above this median.

• M.N.Garden Phase I: Rs 250 per sq.ft (2024)
• M.G.M. Nagar: Rs 200 per sq.ft (2024)
• Mallikai Nagar: Rs 200 per sq.ft (2024)
• Sri Bhavani Nagar: Rs 200 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 200 per sq.ft (2024)
• Srinivasapuram: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in M.N.Garden Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, which would be Rs 17,500, and the registration fee is 2%, amounting to Rs 5,000. Thus, the total cost for stamp duty and registration fees together would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.N.Garden Phase II?

The Sub Registrar Office covering M.N.Garden Phase II 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 Vannipakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Vannipakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value for M.N.Garden Phase II?

The current guideline value for M.N.Garden Phase II is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from the 2023 revision to the 2024 revision. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for M.N.Garden Phase II?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,50,000. The stamp duty at 7% is Rs 17,500, and the registration fee at 2% is Rs 5,000, totaling Rs 22,500 for stamp duty and registration fees.

Which Sub Registrar Office covers M.N.Garden Phase II?

The Ponneri Sub Registrar Office covers M.N.Garden Phase II, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is calculated based on the higher of the guideline value or the sale price, ensuring accurate tax collection and legal compliance.