Guideline Value for MONISHA AVENUE

Monisha Avenue guideline value

The current guideline value of Monisha Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Agaramthen village under the Tambaram Joint 1 SRO, and it falls under the land classification of Residential Special Type - III.

How the guideline value of Monisha Avenue has changed

The guideline value for Monisha Avenue has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. However, from 2017 to 2023, there was a significant increase, bringing the value up to Rs 1,600 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,760 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft as of 2024. The median guideline value for these streets is Rs 830 per sq.ft, placing Monisha Avenue's 2024 figure above this median.

• M.M. Nagar Phase-2: Rs 1,430 per sq.ft (2024)
• M.M.Nagar: Rs 830 per sq.ft (2024)
• M.G.R. Street: Rs 440 per sq.ft (2024)
• Muthu Mariamman Street: Rs 830 per sq.ft (2024)
• Mayana Salai (West): Rs 830 per sq.ft (2024)
• Mayana Salai (East): Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Monisha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees Rs 1,58,400. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Monisha Avenue?

The Sub Registrar Office that covers Monisha Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Agaramthen

The guideline value is a crucial factor in the registration process of property transactions in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Monisha Avenue?

The current guideline value of Monisha Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification of Monisha Avenue?

Monisha Avenue falls under the land classification of Residential Special Type - III.

What are the stamp duty and registration fees for a property in Monisha Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,60,000. The stamp duty at 7% is Rs 1,23,200, and the registration fee at 2% is Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Monisha Avenue?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Monisha Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.