Guideline Value for MURUGAN AVENUE

Murugan Avenue guideline value

The current guideline value of Murugan Avenue is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Murugan Avenue has changed

The guideline value for Murugan Avenue has seen several revisions over the years. In the 2017 revision, the value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant change of 49%. The latest revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, 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 for Murugan Avenue aligns with this median.

• Murali Nagar: Rs 1,320 per sq.ft (2024)
• M.S.Avenue Phase I&ii: Rs 550 per sq.ft (2024)
• M.V.L.Nagar: Rs 880 per sq.ft (2024)
• Nadu Theru: 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)

Stamp duty and registration fee for property in Murugan Avenue

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. 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 detailed calculations.

Which Sub Registrar Office covers Murugan Avenue?

The Sub Registrar Office covering Murugan Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Minjur. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to consider this value, as it influences the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Murugan Avenue?

The current guideline value of Murugan Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased by 64%. It was Rs 335 per sq.ft in 2017, Rs 500 per sq.ft in 2023, and has now reached Rs 550 per sq.ft in 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 49,500. This includes a stamp duty of Rs 38,500 and a registration fee of Rs 11,000.

Which Sub Registrar Office covers Murugan Avenue?

The Ponneri Sub Registrar Office covers Murugan Avenue, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Murugan Avenue?

Murugan Avenue is classified as Residential Class II Type - I according to the guideline value register.