Guideline Value for MINJUR MODERN CITY

Minjur Modern City guideline value

The current guideline value of Minjur Modern City is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Naalur village, under the Ponneri Sub Registrar Office (SRO), and is classified as Residential Class II Type - I.

How the guideline value of Minjur Modern City has changed

According to the guideline value register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street. The 2023 revision set the guideline value at Rs 400 per sq.ft, which remained unchanged in the 2024 revision, also at Rs 400 per sq.ft. This means there was a 0% change from 2023 to 2024.

The 2024 revision is the most recent and reflects the same value as the previous year. The guideline value per sq.ft for Minjur Modern City has consistently been Rs 400 since the 2023 revision.

Guideline values in Naalur

Naalur village has 23 streets under the Ponneri SRO, with guideline values ranging from Rs 400 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the 2024 figure for Minjur Modern City.

• M.K.N. Nagar: Rs 500 per sq.ft (2024)
• M G M Anandha Nagar: Rs 400 per sq.ft (2024)
• Muthaiyah Garden: Rs 400 per sq.ft (2024)
• Om Sakthi Naagr: Rs 400 per sq.ft (2024)
• Padmavathi Nagar: Rs 600 per sq.ft (2024)
• Kesavapuram: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Minjur Modern City

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Minjur Modern City?

The Minjur Modern City 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 Naalur

The guideline value is a crucial factor in property transactions in Naalur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department. This helps in avoiding any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Minjur Modern City?

The current guideline value of Minjur Modern City is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since the 2023 revision, with no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the classification of land in Minjur Modern City?

The land classification for Minjur Modern City is Residential Class II Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is set at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total of Rs 36,000 in fees.

Where can I find the Sub Registrar Office for Minjur Modern City?

The Ponneri Sub Registrar Office covers Minjur Modern City and is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more details through the provided link.