Guideline Value for MEENAKSHI NAGAR

Meenakshi Nagar guideline value

The current guideline value of Meenakshi Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This village is located in Uthukkadu - A under the Walajabad SRO and is classified as Residential Class I Type - I.

How the guideline value of Meenakshi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 234 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 350 per sq.ft. The 2024 revision also maintains the guideline value at Rs 350 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been a 50% increase in the guideline value. The most recent change from 2023 to 2024 shows no percentage increase, remaining at Rs 350 per sq.ft.

Guideline values in Uthukkadu - A

Uthukkadu - A has 38 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value of Meenakshi Nagar aligns with this median.

• Mithilai Nagar: Rs 400 per sq.ft (2024)
• Lakshmi Narasimman Nagar: Rs 300 per sq.ft (2024)
• Lakshmi Narasima Perumal Nagar Phase-II: Rs 300 per sq.ft (2024)
• Kurunji Nagar: Rs 300 per sq.ft (2024)
• Kumaran Nagar: Rs 300 per sq.ft (2024)
• Krisna Garden: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meenakshi Nagar?

The Sub Registrar Office that covers Meenakshi Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Uthukkadu - A

The guideline value is a crucial component in the registration process of property transactions in Uthukkadu - A. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as set by the Registration Department. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Meenakshi Nagar?

The current guideline value of Meenakshi Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 50% to Rs 350 per sq.ft in both the 2023 and 2024 revisions. There were no changes in the guideline value from 2023 to 2024.

What is the land classification for Meenakshi Nagar?

Meenakshi Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Meenakshi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 3,50,000, the stamp duty at 7% would be Rs 24,500.