Guideline Value for MEEVAR COLONY KAMARAJAR SRTEET

Meevar Colony Kamarajar Srteet guideline value

The current guideline value of Meevar Colony Kamarajar Srteet is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the jurisdiction of the Walajabad SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Meevar Colony Kamarajar Srteet has changed

The guideline value for Meevar Colony Kamarajar Srteet has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 60 per sq.ft. This figure increased significantly to Rs 750 per sq.ft in 2012, marking a change of +1150%. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, a drop of -33%. In 2023, the value returned to Rs 750 per sq.ft, and it remained unchanged in the 2024 revision.

In summary, the guideline value has remained at Rs 750 per sq.ft from 2023 to 2024, reflecting a 0% change. Overall, from 2007 to 2024, the increase in guideline value is +1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, which is equal to the current guideline value of Meevar Colony Kamarajar Srteet. Below are the guideline values for other streets in Walajabad:

• Meglinpuram: Rs 750 per sq.ft (2024)
• M.D.Nagar: Rs 500 per sq.ft (2024)
• Mettushop St: Rs 750 per sq.ft (2024)
• Masthan Vali Darga St: Rs 750 per sq.ft (2024)
• Masthan Hajith Dharkar Street: Rs 750 per sq.ft (2024)
• Masoothi St: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Meevar Colony Kamarajar Srteet

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty charged at 7% would be Rs 52,500, while the registration fee at 2% would be Rs 15,000. The total cost for stamp duty and registration would therefore be Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meevar Colony Kamarajar Srteet?

The Sub Registrar Office that covers Meevar Colony Kamarajar Srteet is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Meevar Colony Kamarajar Srteet?

The current guideline value of Meevar Colony Kamarajar Srteet is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and returned to Rs 750 per sq.ft in 2023 and 2024.

What is the land classification for Meevar Colony Kamarajar Srteet?

The land classification for Meevar Colony Kamarajar Srteet is Residential Class IV Type - I.

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

The Sub Registrar Office for Meevar Colony Kamarajar Srteet is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

The 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 7,50,000, the stamp duty at 7% would be Rs 52,500.