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 Peramanoor 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 for Meenakshi Sundaranar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, marking a significant increase of 49% from the 2017 to 2023 period. The 2012 revision also had a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 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 this 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 550 per sq.ft (2024)
• Maruthivar Street Rail Nagar (Ward -2): Rs 1,760 per sq.ft (2024)
• Mettu Street (Ward -19): Rs 550 per sq.ft (2024)
• Mettu Street (Ward -2): Rs 550 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 together 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.

You can use the stamp duty and registration fee calculator for precise calculations.

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 information.

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

The guideline value is a crucial factor when registering property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Meenakshi Sundaranar Street (Ward -7)?

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, an increase of 10%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for Meenakshi Sundaranar Street?

The land classification for Meenakshi Sundaranar Street (Ward -7) is Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Meenakshi Sundaranar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at the rate of 7%.