Guideline Value for Meenakshi Amman Nagar

Meenakshi Amman Nagar guideline value

The current guideline value of Meenakshi Amman Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This locality is situated in Irunkattukottai village, under the jurisdiction of the Sriperumpudur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Meenakshi Amman Nagar has changed

Over the years, the guideline value of Meenakshi Amman Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 151 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 297% rise. However, between 2012 and 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The guideline value then rose to Rs 600 per sq.ft in both the 2023 and 2024 revisions, showing no change from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 297%, reflecting the fluctuations over the years. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 1,250 per sq.ft. The median value for the area is Rs 400 per sq.ft, placing Meenakshi Amman Nagar's 2024 figure above this median.

• Mecca Nagar: Rs 600 per sq.ft (2024)
• Marvel Shire Nagar: Rs 800 per sq.ft (2024)
• M.G.R.Street: Rs 250 per sq.ft (2024)
• Madhavan Nagar: Rs 400 per sq.ft (2024)
• Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Nehru Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty, charged at 7%, would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 Meenakshi Amman Nagar?

The Sub Registrar Office that covers Meenakshi Amman Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Irunkattukottai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency in the property market.

Frequently asked questions

What is the current guideline value of Meenakshi Amman Nagar?

The current guideline value of Meenakshi Amman Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced fluctuations, with the most significant increase occurring from Rs 151 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, followed by a decrease to Rs 402 per sq.ft in 2017. It has since returned to Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification of Meenakshi Amman Nagar?

Meenakshi Amman Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Meenakshi Amman Nagar located?

The Sub Registrar Office for Meenakshi Amman Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.