Guideline Value for JEM'S MERIDIAN NAGAR

Jem's Meridian Nagar guideline value

The current guideline value of Jem's Meridian Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO, classified as Mixed Special Type - II.

How the guideline value of Jem's Meridian Nagar has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased to Rs 2,505 per sq.ft in the 2023 revision, marking a significant rise of 50%. The latest revision in 2024 has set the value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Jem's Meridian Nagar above this median.

• Jems Daffodil Nagar: Rs 3,200 per sq.ft (2024)
• Jegavanthapuram: Rs 1,300 per sq.ft (2024)
• Jegajeevanram Street: Rs 1,600 per sq.ft (2024)
• Joseph Street: Rs 1,300 per sq.ft (2024)
• Jayaprakash Narayan Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Jayaprakash Narayan Nagar 2nd Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jem's Meridian Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Jem's Meridian Nagar?

The Sub Registrar Office that covers Jem's Meridian Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties.

When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Jem's Meridian Nagar?

The current guideline value of Jem's Meridian Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024. This represents an overall increase of 61% over the seven-year period.

What are the stamp duty and registration fees for property in Jem's Meridian Nagar?

The stamp duty is charged at 7%, while the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles property registrations in Jem's Meridian Nagar?

The Selaiyur Sub Registrar Office handles property registrations for Jem's Meridian Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

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

The guideline value is used to determine the minimum price at which a property can be registered. It is essential for calculating stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.