Guideline Value for MEENAKSHI AMMAN NAGAR - Annai Sathya Street

MEENAKSHI AMMAN NAGAR - Annai Sathya Street guideline value

The current guideline value for MEENAKSHI AMMAN NAGAR - Annai Sathya Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of MEENAKSHI AMMAN NAGAR - Annai Sathya Street has changed

The guideline value for MEENAKSHI AMMAN NAGAR - Annai Sathya Street has undergone several revisions over the years. In 2002, the value was Rs 196 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following this, the value rose significantly to Rs 350 per sq.ft in 2007, marking an increase of 62%. The value then saw a substantial jump to Rs 2,000 per sq.ft in 2012, reflecting a 471% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, which then increased by 10% to the current value of Rs 2,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1022%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Nerkundram

Nerkundram features 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, which is equal to the current value of MEENAKSHI AMMAN NAGAR - Annai Sathya Street.

• MEENAKSHI AMMAN NAGAR - Anjugam Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - Anna Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - Avvai Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - Gandhi Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - Giri Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR (Kamaraja High Road): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in MEENAKSHI AMMAN NAGAR - Annai Sathya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers MEENAKSHI AMMAN NAGAR - Annai Sathya Street?

The MEENAKSHI AMMAN NAGAR - Annai Sathya Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO online for more information.

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

The guideline value is a crucial factor in property transactions in Nerkundram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall financial obligations during the property transfer process. Ensuring compliance with the guideline value helps in smooth registration and legal formalities.

Frequently asked questions

What is the current guideline value for MEENAKSHI AMMAN NAGAR - Annai Sathya Street?

The current guideline value for MEENAKSHI AMMAN NAGAR - Annai Sathya Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 196 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, an overall increase of 1022% over this period.

What is the registration office for this street?

The registration office covering MEENAKSHI AMMAN NAGAR - Annai Sathya Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

What is the land classification for MEENAKSHI AMMAN NAGAR - Annai Sathya Street?

MEENAKSHI AMMAN NAGAR - Annai Sathya Street is classified as Residential Class IV Type - I.