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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value of Meenakshi Sundaranar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, when comparing the 2012 figure to the 2024 figure, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to 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 information, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value is a crucial factor when buying or selling property in Panangottur. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. This ensures that the transaction is recorded at a value that reflects the current market conditions, as determined by the guideline value register.

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 seen several revisions: from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Meenakshi Sundaranar Street?

The land classification for Meenakshi Sundaranar Street (Ward -7) is Residential Special Type - V.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Meenakshi Sundaranar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 13,20,000, the stamp duty would be calculated at 7% of this amount.