Guideline Value for Mecca Nagar

Mecca Nagar guideline value

The current guideline value for Mecca Nagar, located in the villages of Orakadu & Kiruthalapuram under the Redhills SRO, is Rs 385 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Mecca Nagar has changed

Over the years, the guideline value for Mecca Nagar has seen significant changes. In 2003, the guideline value was Rs 19 per sq.ft, which increased dramatically to Rs 300 per sq.ft in 2007. Following this, the value rose to Rs 350 per sq.ft in 2012 but then decreased to Rs 234 per sq.ft in 2017. The value then saw a substantial increase of 50% to reach Rs 350 per sq.ft in 2023, before rising again to Rs 385 per sq.ft in the 2024 revision, marking a 10% increase.

The revisions for the year 2002 are not available in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1926%, reflecting the various changes that have occurred over the years.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 900 per sq.ft. The guideline value for Mecca Nagar is equal to the median of Rs 385 per sq.ft. Below are the guideline values for other streets in Orakadu & Kiruthalapuram:

• M.G.R. Street: Rs 385 per sq.ft (2024)
• Kulakkarai Street: Rs 275 per sq.ft (2024)
• Nethaji Street: Rs 385 per sq.ft (2024)
• New Sun City Phase - II: Rs 330 per sq.ft (2024)
• Kirudhalapuram Pradhana Salai: Rs 385 per sq.ft (2024)
• Orakkadu Grama Pradhana Salai: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Mecca Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total fees to Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mecca Nagar?

The Sub Registrar Office that covers Mecca Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Orakadu & Kiruthalapuram

The guideline value is a crucial factor when buying or selling property in Orakadu & Kiruthalapuram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the guideline value can significantly influence the overall costs associated with property transactions.

During the registration process, the guideline value serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mecca Nagar?

The current guideline value of Mecca Nagar is Rs 385 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 19 per sq.ft in 2003 to Rs 385 per sq.ft in 2024, reflecting an overall increase of 1926% over this period.

What are the stamp duty and registration fees for property in Mecca Nagar?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 26,950, and the registration fee would be Rs 7,700, totaling Rs 34,650.

Which Sub Registrar Office covers Mecca Nagar?

The Redhills Sub Registrar Office covers Mecca Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Mecca Nagar?

Mecca Nagar falls under the Residential Class I Type - I land classification, which is relevant for determining its guideline value.