Guideline Value for MEETPAR CHURCH 1ST CROSS ROAD

Meetpar Church 1st Cross Road guideline value

The current guideline value of Meetpar Church 1st Cross Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Palavakkam village under the Neelankarai SRO, and the land classification is Residential Class II Type - I.

How the guideline value of Meetpar Church 1st Cross Road has changed

The guideline value for Meetpar Church 1st Cross Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The overall change from 2012 to 2024 shows an increase of 11% in the guideline value.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Meetpar Church 1st Cross Road above this median.

• Meetpar Chruch 1st Street: 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 Church 1st Cross Road

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meetpar Church 1st Cross Road?

The Sub Registrar Office that covers Meetpar Church 1st Cross Road 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 assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Meetpar Church 1st Cross Road?

The current guideline value of Meetpar Church 1st Cross Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, showing an increase of 11%. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, indicating significant fluctuations over the years.

What is the land classification for Meetpar Church 1st Cross Road?

The land classification for Meetpar Church 1st Cross Road is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties on Meetpar Church 1st Cross Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,73,000 at the current guideline value of Rs 39,00,000.