Guideline Value for Meadow Vilas

Meadow Vilas guideline value

The current guideline value of Meadow Vilas is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Meadow Vilas has changed

The guideline value for Meadow Vilas has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the latest revision in 2024 has set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. The increase from 2012 to 2017 was a decrease of 33%. The substantial rise from 2007 to 2012 was 300%. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Meadow Vilas's 2024 figure is below this median.

• Mayor Radha krishnan nagar: Rs 2,200 per sq.ft (2024)
• Meenambal Cross Street: Rs 2,200 per sq.ft (2024)
• MeenambalLane: Rs 2,200 per sq.ft (2024)
• Meenambal Nagar: Rs 2,200 per sq.ft (2024)
• Meenambal St: Rs 2,200 per sq.ft (2024)
• Meera Nagar i: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Meadow Vilas

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meadow Vilas?

Meadow Vilas falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Meadow Vilas?

The current guideline value of Meadow Vilas is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over this period.

What is the land classification for Meadow Vilas?

Meadow Vilas is classified as Residential Class I Type - II, indicating its use for residential purposes.

What are the stamp duty rates for properties in Meadow Vilas?

The stamp duty for properties in Meadow Vilas is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Meadow Vilas?

The Sub Registrar Office covering Meadow Vilas is located at No.26, MES Road, East Tambaram, Chennai-600059. You can find more details online.