Guideline Value

Corporate

Guideline Value for MEENAKSHI NAGAR

₹880/sq.ft.

The guideline value for Meenakshi Nagar in Palavayal village (Redhills SRO, Chennai zone) is Rs 880 per sq.ft, effective 1 July 2024. It was Rs 800 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavayal

Village

Redhills

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹880 /sq.ft.
From 1-4-2023 ₹800 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Meenakshi Nagar

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Meenakshi Nagar guideline value

The current guideline value for Meenakshi Nagar, located in Palavayal village under the Redhills SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Meenakshi Nagar has changed

Over the years, the guideline value for Meenakshi Nagar has seen several revisions. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 800 per sq.ft. This was an increase from previous revisions. The latest revision in 2024 shows a further increase to Rs 880 per sq.ft, marking a change of +10% from the 2023 figure.

This consistent upward adjustment reflects the evolving landscape of property values in the area. The 2024 figure of Rs 880 per sq.ft is higher than the median guideline value of Rs 440 per sq.ft for the 22 streets in Palavayal under the Redhills SRO, indicating a significant position for Meenakshi Nagar within the local real estate market.

Guideline values in Palavayal

In Palavayal village, there are 22 streets that have been assigned a guideline value for 2024, ranging from Rs 275 to Rs 1,200 per sq.ft. The median value of these streets is Rs 440 per sq.ft, and Meenakshi Nagar's value of Rs 880 per sq.ft is above this median. The following are other streets in Palavayal:

Stamp duty and registration fee for property in Meenakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty is calculated at 7%, which totals Rs 61,600, and the registration fee at 2% amounts to Rs 17,600. Together, these fees total Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenakshi Nagar?

The Sub Registrar Office that covers Meenakshi Nagar is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavayal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the official valuation set by the authorities.

Additionally, the guideline value is essential for both buyers and sellers as it provides a benchmark for property pricing. It helps in assessing the fair value of a property and is a critical factor during negotiations and finalizing sales agreements.

Frequently asked questions

What is the current guideline value for Meenakshi Nagar?

The current guideline value for Meenakshi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Meenakshi Nagar has changed from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Meenakshi Nagar?

The Redhills Sub Registrar Office handles property registrations for Meenakshi Nagar. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value for streets in Palavayal?

The median guideline value for the 22 streets in Palavayal is Rs 440 per sq.ft. Meenakshi Nagar's guideline value of Rs 880 per sq.ft is above this median.