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Guideline Value

Corporate

Guideline Value for MEHRU NAGAR EXTN.

₹1650/sq.ft.

The guideline value for Mehru Nagar Extn. in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹110 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹93 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mehru Nagar Extn.

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Mehru Nagar Extn. guideline value

The current guideline value of Mehru Nagar Extn. is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Mehru Nagar Extn. has changed

The guideline value for Mehru Nagar Extn. has seen several revisions over the years. The earliest figure available is from 2002, which was Rs 93 per sq.ft. This increased to Rs 110 per sq.ft in 2003, marking an 18% rise. Following this, the value saw a substantial increase to Rs 500 per sq.ft in 2007, representing a 355% jump. In 2012, the value was Rs 1,500 per sq.ft, which was a 200% increase from the previous revision. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in years not listed. The overall increase from 2002 to 2024 is significant, standing at 1,674%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values in 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Mehru Nagar Extn.

Stamp duty and registration fee for property in Mehru Nagar Extn.

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mehru Nagar Extn.?

The Sub Registrar Office that covers Mehru Nagar Extn. is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure that they are paying the correct fees based on the property’s value.

When a property is sold, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mehru Nagar Extn.?

The current guideline value of Mehru Nagar Extn. is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 93 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 1,674%.

What is the role of the Chennai South Joint I SRO?

The Chennai South Joint I SRO is responsible for maintaining the guideline value register and overseeing property registrations in the area, including Mehru Nagar Extn.

How is stamp duty calculated for properties in Mehru Nagar Extn.?

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 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.

Where can I find more information about the registration process?

More information about the registration process and fees can be found at the Chennai South Joint I SRO or by using the stamp duty and registration fee calculator.