Guideline Value for MINJUR NEW TOWN

Minjur New Town guideline value

The current guideline value of Minjur New Town is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO, classified as Residential Class III Type - I.

How the guideline value of Minjur New Town has changed

The guideline value for Minjur New Town has seen several revisions over the years. The 2017 revision set the value at Rs 268 per sq.ft, which increased to Rs 400 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 440 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. This consistent increase reflects the changing landscape of property values in the area.

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. Minjur New Town's current figure of Rs 440 per sq.ft is below this median.

• M.M.Swamy Nagar: Rs 880 per sq.ft (2024)
• M.S.Avenue Phase I&ii: Rs 550 per sq.ft (2024)
• Murali Nagar: Rs 1,320 per sq.ft (2024)
• Murugan Avenue: Rs 550 per sq.ft (2024)
• Mannar Swami Nagar: Rs 880 per sq.ft (2024)
• Manikandan Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Minjur New Town

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. 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 more details.

Which Sub Registrar Office covers Minjur New Town?

The Sub Registrar Office that covers Minjur New Town 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 Minjur

The guideline value is an essential factor in property transactions in Minjur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable fees. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Minjur New Town?

The current guideline value of Minjur New Town is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and now to Rs 440 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification of Minjur New Town?

Minjur New Town is classified as Residential Class III Type - I. This classification is important for understanding the zoning and usage of the land in the area.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles property registrations for the Minjur area.

How is stamp duty calculated in Minjur?

Stamp duty in Minjur is calculated based on the guideline value or the sale price, whichever is higher. It is typically set at 7% of the total value, along with a registration fee of 2%.