Guideline Value for MEENAKSHI NAGAR

Meenakshi Nagar guideline value

The current guideline value of Meenakshi Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Meenakshi Nagar has changed

The guideline value for Meenakshi Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 900 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a notable rise of 233%. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent revision in 2024 increased it further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Meenakshi Nagar's 2024 figure below that median.

• Mayor Sampandam Street: Rs 4,600 per sq.ft (2024)
• METTU STREET (or) PALANI ANDAVAR KOIL STREET: Rs 5,800 per sq.ft (2024)
• Mariamman Koil Street: Rs 4,600 per sq.ft (2024)
• Mannar Mudali 2nd Street: Rs 5,800 per sq.ft (2024)
• Mannar Mudali 1st Street: Rs 5,800 per sq.ft (2024)
• M.G.R. Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the 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 Nagar?

The Sub Registrar Office that covers Meenakshi Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall costs associated with property transactions. Ensuring that the property is valued correctly according to the guideline can help avoid potential legal issues 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 267% over the years.

What is the land classification of Meenakshi Nagar?

Meenakshi Nagar is classified as Residential Class V Type - I.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the 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, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.