Guideline Value for MEENATCHIPURAM (CHEN)

Meenatchipuram (Chen) guideline value

The current guideline value of Meenatchipuram (Chen) is Rs 880 per sq.ft, effective from 1 July 2024. This street is part of Sengundram - 1 village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Meenatchipuram (Chen) has changed

The guideline value for Meenatchipuram (Chen) has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 800 per sq.ft, and the most recent 2024 revision has raised it to Rs 880 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, the value saw a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft. The median guideline value for this area is Rs 880 per sq.ft, which is the same as the current value for Meenatchipuram (Chen).

• Mettu Street (Chen): Rs 660 per sq.ft (2024)
• Maruthi Nagar (Chen): Rs 880 per sq.ft (2024)
• Mariyamman Koil Street (Chen): Rs 660 per sq.ft (2024)
• Malrosapuram (Chen): Rs 880 per sq.ft (2024)
• Mullai Nagar: Rs 1,320 per sq.ft (2024)
• Malleswaran Nagar (Chen): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Meenatchipuram (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total cost for these fees Rs 79,200. Please 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 more details.

Which Sub Registrar Office covers Meenatchipuram (Chen)?

The Sub Registrar Office that covers Meenatchipuram (Chen) 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 Sengundram - 1

The guideline value is an essential factor during the registration of property transactions in Sengundram - 1. It serves as a reference point for calculating stamp duty and registration fees, which are mandatory charges that need to be paid when properties are bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately within the official registry. It provides a standardized value that reflects the market conditions and land classifications in the area.

Frequently asked questions

What is the current guideline value of Meenatchipuram (Chen)?

The current guideline value of Meenatchipuram (Chen) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

What is the land classification for Meenatchipuram (Chen)?

Meenatchipuram (Chen) is classified as Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Meenatchipuram (Chen)?

The Sub Registrar Office for Meenatchipuram (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions in Meenatchipuram (Chen)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.