Guideline Value for M.S.AVENUE PHASE I&II

M.S.Avenue Phase I&ii guideline value

The current guideline value of M.S.Avenue Phase I&ii is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Minjur village, under the Ponneri Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of M.S.Avenue Phase I&ii has changed

The guideline value for M.S.Avenue Phase I&ii has seen significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft, which was then increased to Rs 500 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 550 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. However, the increase from 2017 to 2023 was notable at 49%, reflecting a considerable upward adjustment in the guideline value.

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, with a median value of Rs 550 per sq.ft. The guideline value of M.S.Avenue Phase I&ii aligns with this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.S.Avenue Phase I&ii?

The M.S.Avenue Phase I&ii is covered by 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 Minjur

The guideline value plays a crucial role in the registration process when buying or selling property in Minjur. It is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of M.S.Avenue Phase I&ii?

The current guideline value of M.S.Avenue Phase I&ii is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the stamp duty rate for properties in M.S.Avenue Phase I&ii?

The stamp duty rate for properties in M.S.Avenue Phase I&ii is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in M.S.Avenue Phase I&ii?

For transactions in M.S.Avenue Phase I&ii, you should visit the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What are the guideline values of other streets in Minjur?

Other streets in Minjur have varying guideline values. For example, Murali Nagar is Rs 1,320 per sq.ft, while Minjur New Town is Rs 440 per sq.ft. The guideline values range from Rs 440 to Rs 1,320 per sq.ft in Minjur.