Guideline Value for Meenakshi Amman Koil Street (Teacher's Colony)

Meenakshi Amman Koil Street (Teacher's Colony) guideline value

The current guideline value of Meenakshi Amman Koil Street (Teacher's Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Meenakshi Amman Koil Street (Teacher's Colony) has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase in the guideline value. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Meenakshi Amman Koil Street.

• Meenakshi 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Meenakshi Street: Rs 2,200 per sq.ft (2024)
• Meenambal Salai: Rs 3,301 per sq.ft (2024)
• Meenambal Salai (Abirami Avenue): Rs 3,301 per sq.ft (2024)
• Meenambal Salai Ambedkar 1st Street: Rs 3,301 per sq.ft (2024)
• Meenambal Salai Ambedkar 2nd Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Amman Koil Street (Teacher's Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the 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 Meenakshi Amman Koil Street (Teacher's Colony)?

The Sub Registrar Office that covers Meenakshi Amman Koil Street (Teacher's Colony) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers should be aware of the current guideline value to ensure a smooth registration process and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Meenakshi Amman Koil Street?

The current guideline value of Meenakshi Amman Koil Street (Teacher's Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,500 in 2023, and then increased to Rs 2,700 in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Meenakshi Amman Koil Street?

Meenakshi Amman Koil Street is classified as Residential Class I Type - I under the Madhavaram SRO.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Meenakshi Amman Koil Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information through the provided link.