Guideline Value for Arulmigu Meenakshi Amman Nagar 2nd Street

Arulmigu Meenakshi Amman Nagar 2nd Street guideline value

The current guideline value of Arulmigu Meenakshi Amman Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Arulmigu Meenakshi Amman Nagar 2nd Street has changed

The guideline value for Arulmigu Meenakshi Amman Nagar 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, followed by a further rise to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 633%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Arulmigu Meenakshi Amman Nagar 2nd Street.

• Arulmigu Meenakshi Amman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Arulmigu Meenakshi Amman Nagar Main Road: Rs 2,200 per sq.ft (2024)
• A.V.K. Nagar: Rs 3,050 per sq.ft (2024)
• Annammal Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Annammal Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Annammal Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Arulmigu Meenakshi Amman Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Arulmigu Meenakshi Amman Nagar 2nd Street?

The Sub Registrar Office that covers Arulmigu Meenakshi Amman Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the charges are based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for anyone looking to engage in property transactions in Nerkundram. It ensures that all parties are informed of the applicable fees and helps in making the registration process smoother.

Frequently asked questions

What is the current guideline value of Arulmigu Meenakshi Amman Nagar 2nd Street?

The current guideline value of Arulmigu Meenakshi Amman Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which reflects an overall increase of 633% over this period.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,98,000 based on the current guideline value.

Which Sub Registrar Office is responsible for Arulmigu Meenakshi Amman Nagar 2nd Street?

The Virugambakkam Sub Registrar Office is responsible for Arulmigu Meenakshi Amman Nagar 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft, which is the same as the current guideline value for Arulmigu Meenakshi Amman Nagar 2nd Street.