Guideline Value for MEENACHI NAGAR

Meenachi Nagar guideline value

The current guideline value of Meenachi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vellivoyal village under the Thiruvottiyur SRO and is classified as Residential Class I Type - III.

How the guideline value of Meenachi Nagar has changed

The guideline value for Meenachi Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, which set the rate at Rs 268 per sq.ft. This figure increased to Rs 400 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 further increased the guideline value to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vellivoyal

In Vellivoyal, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is the same as the guideline value for Meenachi Nagar.

• Maruthi Nagar: Rs 440 per sq.ft (2024)
• M G R Nagar: Rs 275 per sq.ft (2024)
• Mrf Nagar: Rs 550 per sq.ft (2024)
• Nehru Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• P.H. Road: Rs 550 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800. Together, the total cost for these fees would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenachi Nagar?

The Sub Registrar Office that covers Meenachi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vellivoyal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value as it may impact the overall costs involved in the transaction. Buyers should ensure that they are prepared for the fees associated with the guideline value during the registration process.

Frequently asked questions

What is the current guideline value of Meenachi Nagar?

The current guideline value of Meenachi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the registration office for Meenachi Nagar?

The registration office for Meenachi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty and registration fees for a property in Meenachi Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Are there other streets with similar guideline values in Vellivoyal?

Yes, several other streets in Vellivoyal have similar guideline values, including Maruthi Nagar and Nehru Nagar, both at Rs 440 per sq.ft in 2024.