Guideline Value for MENABEDU ROAD (KANCHINAKUPPAM)

Menabedu Road (Kanchinakuppam) guideline value

The current guideline value of Menabedu Road (Kanchinakuppam) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Menabedu Road (Kanchinakuppam) has changed

Over the years, the guideline value of Menabedu Road (Kanchinakuppam) has seen significant changes. The earliest recorded figure is from the 2007 revision, which was Rs 375 per sq.ft. This increased dramatically to Rs 2,300 per sq.ft in 2012, marking a rise of 513%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a decline of 33%. The most recent revision in 2024 shows a guideline value of Rs 2,500 per sq.ft, reflecting an increase of 62% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 567%.

Guideline values in Korattur

In Korattur village, there are a total of 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which aligns with the 2024 figure for Menabedu Road (Kanchinakuppam).

• Meenakshi Nagar: Rs 1,600 per sq.ft (2024)
• Mettu Street: Rs 2,500 per sq.ft (2024)
• Maruthi Flats: Rs 2,900 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Mariyamma Nagar: Rs 2,500 per sq.ft (2024)
• M.M.Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Menabedu Road (Kanchinakuppam)

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Menabedu Road (Kanchinakuppam)?

The Sub Registrar Office that covers Menabedu Road (Kanchinakuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Menabedu Road (Kanchinakuppam)?

The current guideline value of Menabedu Road (Kanchinakuppam) is Rs 2,500 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 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 567% over the years.

What are the stamp duty and registration fees for properties on Menabedu Road?

For a property measuring 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office covers Menabedu Road?

The Villivakkam Sub Registrar Office covers Menabedu Road (Kanchinakuppam), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Menabedu Road?

Menabedu Road (Kanchinakuppam) is classified as Residential Class II Type - III, indicating its suitability for residential development.