Guideline Value for Millinennium Manthra

Millinennium Manthra guideline value

The current guideline value of Millinennium Manthra is Rs 3,960 per sq.ft, effective from 1 July 2024. This property is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Millinennium Manthra has changed

Over the years, the guideline value of Millinennium Manthra has seen several revisions. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,600 per sq.ft in the 2023 revision, and finally, it rose to Rs 3,960 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, which is the same as the guideline value for Millinennium Manthra.

• Moorthy Avenue: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 1st Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 2nd Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 3rd Street: Rs 3,960 per sq.ft (2024)
• Mount Poovai Salai: Rs 6,380 per sq.ft (2024)
• Melpallikuppam - Ramakrishna nagar Link Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Millinennium Manthra

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, totaling Rs 3,56,400. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Millinennium Manthra?

The Sub Registrar Office that covers Millinennium Manthra is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

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

When buying or selling a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Millinennium Manthra?

The current guideline value of Millinennium Manthra is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Millinennium Manthra?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200, and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which Sub Registrar Office covers Millinennium Manthra?

The Kunrathur Sub Registrar Office covers Millinennium Manthra, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, ensuring that the appropriate stamp duty and registration fees are collected during the transaction.