Guideline Value for Meenakshi Avenue

Meenakshi Avenue guideline value

The current guideline value of Meenakshi Avenue, located in Nandhivaram village, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Meenakshi Avenue has changed

In the 2007 revision, the guideline value was Rs 328 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a growth of 357%. However, in the 2017 revision, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 357%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, which is the same as the guideline value for Meenakshi Avenue.

• Meenakshi Nagar: Rs 1,500 per sq.ft (2024)
• MasoothiStreet: Rs 1,500 per sq.ft (2024)
• Mettu Street: Rs 1,200 per sq.ft (2024)
• Maruthi Nagar: Rs 1,500 per sq.ft (2024)
• M.G. Nagar Part-IA: Rs 1,500 per sq.ft (2024)
• Manigandapuram: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenakshi Avenue?

The Sub Registrar Office covering Meenakshi Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nandhivaram, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a baseline for calculating stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of Meenakshi Avenue?

The current guideline value of Meenakshi Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most significant increase occurring from Rs 328 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012. The value has remained stable at Rs 1,500 per sq.ft from 2023 to 2024.

What is the land classification of Meenakshi Avenue?

Meenakshi Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Meenakshi Avenue?

The registration office for Meenakshi Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Meenakshi Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 15,00,000, the stamp duty would be Rs 1,05,000 at a rate of 7%.