Guideline Value for MILLENNIUM AVENUE

Millennium Avenue guideline value

The current guideline value of Millennium Avenue is Rs 2,140 per sq.ft, effective from 1 July 2024. This street is located in 44.Ayanambakkam village under the Konnur SRO and is classified as Residential Class II Type - V.

How the guideline value of Millennium Avenue has changed

In the 2017 revision, the guideline value was Rs 1,950 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,140 per sq.ft, marking a 10% rise from the previous year's value.

Overall, from the 2017 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value of Millennium Avenue is above this median.

• Millenium Town: Rs 1,700 per sq.ft (2024)
• Metro City View House Site Sch: Rs 1,700 per sq.ft (2024)
• Metro City Society (Phase IV): Rs 1,700 per sq.ft (2024)
• Metro City Society (Phase III): Rs 1,700 per sq.ft (2024)
• Metro City Society (Phase II): Rs 1,700 per sq.ft (2024)
• Metro City Society (Phase I): Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Millennium Avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,140 per sq.ft, the guideline value amounts to Rs 21,40,000. The stamp duty at 7% would be Rs 1,49,800, and the registration fee at 2% would be Rs 42,800, totaling Rs 1,92,600. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Millennium Avenue?

The Sub Registrar Office that covers Millennium Avenue is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor during the registration of property transactions in 44.Ayanambakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

Buyers and sellers must be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are conducted transparently and fairly in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Millennium Avenue?

The current guideline value of Millennium Avenue is Rs 2,140 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Millennium Avenue has seen a 10% increase from Rs 1,950 per sq.ft in 2017 to Rs 2,140 per sq.ft in 2024. There was no change in the value from 2017 to 2023.

What is the land classification for Millennium Avenue?

Millennium Avenue is classified as Residential Class II Type - V. This classification is important for understanding the permissible uses of the land.

What are the other streets with guideline values in 44.Ayanambakkam?

There are several other streets in 44.Ayanambakkam with their respective guideline values. For instance, Millenium Town, Metro City View House Site Sch, and various phases of Metro City Society all have a guideline value of Rs 1,700 per sq.ft in 2024.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. This office handles the registration of properties in the area.