Guideline Value for RATHNA AVENUE

Rathna Avenue guideline value

The current guideline value of Rathna Avenue is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Rathna Avenue has changed

The guideline value for Rathna Avenue has seen several revisions over the years. In the 2017 revision, the value was Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 440 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for Rathna Avenue in the revisions of 2002, 2003, 2007, and 2012. 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. The median value for these streets is Rs 550 per sq.ft, placing Rathna Avenue's 2024 figure below that median.

• Rangha Avenue: Rs 440 per sq.ft (2024)
• Ramshankar Nagar: Rs 550 per sq.ft (2024)
• Ramathilagam Avenue: Rs 550 per sq.ft (2024)
• Ramarettipalayam & Main Road: Rs 550 per sq.ft (2024)
• Ramarettipalayam Colony: Rs 550 per sq.ft (2024)
• Ramana Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rathna Avenue

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 to Rs 39,600. It is important to note that 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 Rathna Avenue?

The Sub Registrar Office that covers Rathna Avenue 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 a crucial factor in property transactions in Minjur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The guideline value is set by the Registration Department and is subject to periodic revisions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rathna Avenue?

The current guideline value of Rathna Avenue is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other streets with guideline values in Minjur?

Other streets in Minjur under the Ponneri SRO include Rangha Avenue at Rs 440 per sq.ft, Ramshankar Nagar, Ramathilagam Avenue, Ramarettipalayam & Main Road, and Ramarettipalayam Colony all at Rs 550 per sq.ft, and Ramana Nagar at Rs 880 per sq.ft.

How is the stamp duty calculated for properties in Rathna Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800.

Where can I find the Sub Registrar Office for Rathna Avenue?

The Sub Registrar Office for Rathna Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.