Guideline Value for MEENAKSHI STREET

Meenakshi Street guideline value

The current guideline value of Meenakshi Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Special Type - II.

How the guideline value of Meenakshi Street has changed

Starting from the earliest revision in 2003, the guideline value for Meenakshi Street was Rs 581 per sq.ft. This figure saw a significant increase in 2007 to Rs 800 per sq.ft, marking a change of +38%. The value rose dramatically in 2012 to Rs 5,500 per sq.ft, reflecting a substantial increase of +588% from the 2007 revision. The register has no figures for the years 2002, 2017, and 2023.

In the latest revision of 2024, the guideline value reached Rs 6,000 per sq.ft, which is an increase of +9% from the 2012 figure. Overall, from 2003 to 2024, the guideline value has increased by +933%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Meenakshi Street's 2024 guideline value is above this median.

• Melpatti Ponnappa Mudali Street: Rs 7,100 per sq.ft (2024)
• Mayor Krishnamurthy Street: Rs 2,200 per sq.ft (2024)
• Mathiyazhagan Street: Rs 2,700 per sq.ft (2024)
• M.G.R Nagar 1st Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 1st Link (Inaippu) Road: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meenakshi Street?

The Sub Registrar Office that covers Meenakshi Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps determine the legal and financial obligations involved in the transaction. Buyers should be aware of the guideline value to understand the costs they will incur during registration and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Meenakshi Street?

The current guideline value of Meenakshi Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 581 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of +933% over the years.

What is the land classification for Meenakshi Street?

Meenakshi Street is classified as Residential Special Type - II under the current land classification.

What are the stamp duty and registration fees for properties on Meenakshi Street?

For a 1,000 sq.ft plot valued at Rs 60,00,000, the total stamp duty and registration fees would be Rs 5,40,000, which includes a stamp duty of Rs 4,20,000 and a registration fee of Rs 1,20,000.

Which office handles the registration for Meenakshi Street?

The Purasaivakkam Sub Registrar Office at 93/1, Bricklin Road, Otteri, Chennai- 600 012 handles the registration for Meenakshi Street.