Guideline Value for MEENACHI NAGAR

Meenachi Nagar guideline value

The current guideline value of Meenachi Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is part of Korattur-B village and falls under the Avadi SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Meenachi Nagar has changed

The guideline value register has no figures for Meenachi Nagar for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 990 per sq.ft.

Since there are no figures available for the previous revisions, there have been no changes noted for this street between the years listed. The current guideline value reflects the latest update as of July 2024.

Guideline values in Korattur-B

In Korattur-B, there are 11 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 165 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,000 per sq.ft, placing Meenachi Nagar's 2024 figure below that median.

• Nri Nest: Rs 1,100 per sq.ft (2024)
• Srinivasa Nagar: Rs 165 per sq.ft (2024)
• Balaji Nagar: Rs 550 per sq.ft (2024)
• Ashok Nandhavanam Phase-III: Rs 1,100 per sq.ft (2024)
• Ashok Nandavanam: Rs 1,485 per sq.ft (2024)
• Adeeswara Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Meenachi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, while the registration fee at 2% amounts to Rs 19,800. Together, these fees total Rs 89,100. 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 Meenachi Nagar?

Meenachi Nagar is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur-B

The guideline value plays a crucial role during the registration of property transactions in Korattur-B. It is used to determine the applicable stamp duty and registration fees, which are essential costs in the buying and selling process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair rate, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the guideline value to accurately calculate their expenses during the transaction.

Frequently asked questions

What is the current guideline value of Meenachi Nagar?

The current guideline value of Meenachi Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value of Meenachi Nagar changed over the years?

There are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 990 per sq.ft.

What are the registration fees for property in Meenachi Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 89,100.

Which office handles the registration for Meenachi Nagar?

The Avadi Sub Registrar Office handles the registration for Meenachi Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value determined for properties in Korattur-B?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically, with the latest revision for Meenachi Nagar being effective from 1 July 2024.