Guideline Value for Kaladharan Street / Meenakshi Nagar

Kaladharan Street / Meenakshi Nagar guideline value

The current guideline value of Kaladharan Street / Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kaladharan Street / Meenakshi Nagar has changed

The guideline value for Kaladharan Street / Meenakshi Nagar has seen significant changes over the years. In 2002, the value was Rs 206 per sq.ft, which increased to Rs 234 per sq.ft in 2003, marking a 14% rise. The value continued to grow, reaching Rs 360 per sq.ft in 2007, an increase of 54%. By 2017, it had risen to Rs 1,206 per sq.ft, reflecting a substantial 235% increase from the previous revision. There is no figure available for the year 2012.

In the following revisions, the guideline value climbed to Rs 1,800 per sq.ft in 2023, representing a 49% increase from 2017. The most recent revision in 2024 has set the value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 861%.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, making the guideline value for Kaladharan Street / Meenakshi Nagar below the median.

• Kakkan Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Kakkan Cross Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Kakkan 2nd Cross Street, H.L. Colony: Rs 2,530 per sq.ft (2024)
• Kalaingar Salai / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Kalaingar Salai / Cross Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Kadar Basha Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Kaladharan Street / Meenakshi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Please 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 more details.

Which Sub Registrar Office covers Kaladharan Street / Meenakshi Nagar?

The Sub Registrar Office that covers Kaladharan Street / Meenakshi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both buyers and sellers to understand how the guideline value impacts their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Kaladharan Street / Meenakshi Nagar?

The current guideline value of Kaladharan Street / Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 206 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 861% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is above the current value of Kaladharan Street / Meenakshi Nagar.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Kaladharan Street / Meenakshi Nagar?

The Pammal Sub Registrar Office handles property registration for Kaladharan Street / Meenakshi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.