Guideline Value for MEETPAR CHRUCH 1ST STREET

Meetpar Chruch 1st Street guideline value

The current guideline value of Meetpar Chruch 1st Street is Rs 3,900 per sq.ft. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Meetpar Chruch 1st Street has changed

The guideline value for Meetpar Chruch 1st Street has seen significant changes over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 457%. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Meetpar Chruch 1st Street's 2024 figure above this median.

• Meetpar Church 1st Cross Road: Rs 3,900 per sq.ft (2024)
• Meetpar Church Road: Rs 3,900 per sq.ft (2024)
• Mayor Stalin Street: Rs 2,800 per sq.ft (2024)
• Masilamani Naicker Street: Rs 2,800 per sq.ft (2024)
• M.G.R.Nagar (Canal Road): Rs 2,200 per sq.ft (2024)
• M.G.R.Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Meetpar Chruch 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meetpar Chruch 1st Street?

The Sub Registrar Office that covers Meetpar Chruch 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs involved in the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Meetpar Chruch 1st Street?

The current guideline value of Meetpar Chruch 1st Street is Rs 3,900 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 457% over this period.

What is the land classification of Meetpar Chruch 1st Street?

Meetpar Chruch 1st Street is classified as Residential Class II Type - I.

What is the registration office for Meetpar Chruch 1st Street?

The Neelankarai Sub Registrar Office is responsible for registrations in Meetpar Chruch 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is stamp duty calculated for properties in Meetpar Chruch 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000, leading to a stamp duty of Rs 2,73,000.