Guideline Value for Meelandai madaveedi

Meelandai madaveedi guideline value

The current guideline value of Meelandai madaveedi is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Pungathur village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - III.

How the guideline value of Meelandai madaveedi has changed

The guideline value for Meelandai madaveedi has undergone several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft. It increased significantly to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017. The value rose again to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the most notable change occurred from 2007 to 2012, with a remarkable increase of 233%. The value then saw a decrease of 33% from 2012 to 2017, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pungathur

Pungathur village has 32 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 1,485 per sq.ft. The guideline value of Meelandai madaveedi is below this median.

• K.R.R.C Nagar: Rs 1,650 per sq.ft (2024)
• Keezhandai mada veedhi: Rs 550 per sq.ft (2024)
• Kamakshiamman st: Rs 550 per sq.ft (2024)
• Jayanagar mainRoad: Rs 1,650 per sq.ft (2024)
• R.P Gardan: Rs 1,650 per sq.ft (2024)
• Sakthi Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Meelandai madaveedi

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meelandai madaveedi?

The Sub Registrar Office that covers Meelandai madaveedi is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pungathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Meelandai madaveedi?

The current guideline value of Meelandai madaveedi is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with various increases and decreases in between. The most significant increase was from 2007 to 2012, which saw a rise of 233%.

What is the land classification of Meelandai madaveedi?

Meelandai madaveedi is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

Where can I find the registration office for Meelandai madaveedi?

The registration office for Meelandai madaveedi is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 550 per sq.ft would incur a total fee of Rs 49,500.