Guideline Value for MEENAKSHI AMMAN NAGAR - Subash Street

MEENAKSHI AMMAN NAGAR - Subash Street guideline value

The current guideline value of MEENAKSHI AMMAN NAGAR - Subash Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

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

The guideline value for MEENAKSHI AMMAN NAGAR - Subash Street has seen several revisions over the years. In 2002, the rate was Rs 196 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following that, there was a significant increase to Rs 350 per sq.ft in 2007, and then it rose dramatically to Rs 2,000 per sq.ft in 2012. However, the value dropped to Rs 1,340 per sq.ft in 2017 before climbing to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was 10%. The jump from 2003 to 2007 was 62%, while the rise from 2007 to 2012 was an impressive 471%. The value decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 1022%. There are no figures available for the years not listed in the register for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for MEENAKSHI AMMAN NAGAR - Subash Street.

• MEENAKSHI AMMAN NAGAR - Sannadhi Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - Tirumalai Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - Tiruvalluvar Salai: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - N.S.K. Street: Rs 2,200 per sq.ft (2024)
• MEENAKSHI AMMAN NAGAR - V.O.C. Street: Rs 2,200 per sq.ft (2024)

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

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

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

Which Sub Registrar Office covers MEENAKSHI AMMAN NAGAR - Subash Street?

The Sub Registrar Office that covers MEENAKSHI AMMAN NAGAR - Subash Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

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

The current guideline value for MEENAKSHI AMMAN NAGAR - Subash 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 over the years, increasing from Rs 196 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various revisions in between.

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

The land classification for MEENAKSHI AMMAN NAGAR - Subash Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers MEENAKSHI AMMAN NAGAR - Subash Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.