Guideline Value for MEGLINPURAM

Meglinpuram guideline value

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

How the guideline value of Meglinpuram has changed

The guideline value for Meglinpuram has undergone several revisions over the years. In 2007, the guideline value was Rs 60 per sq.ft, which saw a significant increase to Rs 750 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft. The 2023 revision maintained the value at Rs 750 per sq.ft, and the current 2024 revision also reflects Rs 750 per sq.ft. The register has no figure for the years 2002 and 2003.

In terms of percentage changes, the guideline value increased by 1150% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 1150%.

Guideline values in Walajabad

Walajabad village has a total of 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 aligns with the current value of Meglinpuram.

• Meevar Colony Kamarajar Srteet: 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 Meglinpuram

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 at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total charges to 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meglinpuram?

The Sub Registrar Office that covers Meglinpuram 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 plays a crucial role during property transactions in Walajabad. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value is established by the government and is periodically revised to reflect changes in the real estate market.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the latest figures to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Meglinpuram?

The current guideline value of Meglinpuram is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 60 per sq.ft in 2007, rising to Rs 750 per sq.ft in 2012, dropping to Rs 502 per sq.ft in 2017, and remaining at Rs 750 per sq.ft in both 2023 and 2024.

What is the land classification for Meglinpuram?

The land classification for Meglinpuram is Residential Class IV Type - I, indicating its designation for residential use.

What are the other streets in Walajabad with similar guideline values?

Other streets in Walajabad that share the same guideline value of Rs 750 per sq.ft include Meevar Colony Kamarajar Srteet, Mettushop St, Masthan Vali Darga St, Masthan Hajith Dharkar Street, and Masoothi St.

How are stamp duty and registration fees calculated in Meglinpuram?

Stamp duty and registration fees in Meglinpuram are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000, resulting in a stamp duty of Rs 52,500 and a registration fee of Rs 15,000.