Guideline Value for L.I.C Colony Meelamegam Street

L.I.C Colony Meelamegam Street guideline value

The current guideline value of L.I.C Colony Meelamegam Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of L.I.C Colony Meelamegam Street has changed

The guideline value for L.I.C Colony Meelamegam Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,541 per sq.ft, which increased to Rs 2,300 per sq.ft in 2023. The most recent revision in 2024 raised it further to Rs 2,530 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes over time, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a significant increase of 64%. 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 Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for L.I.C Colony Meelamegam Street is above this median.

• L.I.C Colony Kothandapani Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 7th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 6th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 5th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 4th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 3rd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in L.I.C Colony Meelamegam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers L.I.C Colony Meelamegam Street?

The L.I.C Colony Meelamegam Street falls under the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Anakaputhur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring transparency in the transaction process.

When you are buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of L.I.C Colony Meelamegam Street?

The current guideline value of L.I.C Colony Meelamegam Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,541 per sq.ft in 2017 to Rs 2,300 per sq.ft in 2023, and then to Rs 2,530 per sq.ft in 2024, marking a total increase of 64% from 2017 to 2024.

What is the land classification for L.I.C Colony Meelamegam Street?

L.I.C Colony Meelamegam Street is classified as Commercial Class I Type - II.

Where can I find the registration office for L.I.C Colony Meelamegam Street?

The registration office for L.I.C Colony Meelamegam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in L.I.C Colony Meelamegam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged on the guideline value.