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 Sattamangalam 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

Over the years, the guideline value for Meenakshi Sundaranar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 10% from the 2012 figure. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are a total of 425 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Meenakshi Sundaranar Street's 2024 value of Rs 1,320 per sq.ft is 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 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, making the total cost for these fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and 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 Sattamangalam

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. Buyers should be aware that the stamp duty and registration fees are based on this guideline value or the sale price, whichever is higher.

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 2012 to Rs 804 per sq.ft in 2017, then 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?

Meenakshi Sundaranar Street is classified as Residential Special Type - V, which is important for understanding its usage and potential development.

What are the other streets in Sattamangalam and their guideline values?

Other streets in Sattamangalam include Masthan Sahib Street, Maruthupandiya Street, Mettu Street (Ward -15), Maruthivar Street Rail Nagar, and Mettu Street (Ward -19), with guideline values ranging from Rs 440 to Rs 1,760 per sq.ft.

Where can I find the Sub Registrar Office for Meenakshi Sundaranar Street?

The Chengleput Joint II Sub Registrar Office covers Meenakshi Sundaranar Street and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.