Guideline Value for MEENAKSHI SUNDARANAR STREET (WARD -7)

Meenakshi Sundaranar Street (Ward -7) guideline value

The current guideline value of Meenakshi Sundaranar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

How the guideline value of Meenakshi Sundaranar Street (Ward -7) has changed

The guideline value for Meenakshi Sundaranar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 1,200 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no recorded figures for Meenakshi Sundaranar Street in the revisions from 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Meenakshi Sundaranar Street's 2024 figure above that median.

• Masthan Sahib Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Maruthupandiya Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Mettu Street (Ward -15): Rs 440 per sq.ft (2024)
• Maruthivar Street Rail Nagar (Ward -2): Rs 1,760 per sq.ft (2024)
• Mettu Street (Ward -19): Rs 440 per sq.ft (2024)
• Mettu Street (Ward -2): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Sundaranar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenakshi Sundaranar Street (Ward -7)?

The Sub Registrar Office covering Meenakshi Sundaranar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in assessing the legal and financial implications of the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial obligations involved in the property transfer.

Frequently asked questions

What is the current guideline value of Meenakshi Sundaranar Street?

The current guideline value of Meenakshi Sundaranar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017, and Rs 1,200 per sq.ft in 2012.

What is the land classification for Meenakshi Sundaranar Street?

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

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,320 per sq.ft would incur a stamp duty of Rs 92,400.