Guideline Value for Meenakshi Avenue

Meenakshi Avenue guideline value

The current guideline value of Meenakshi Avenue is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Meenakshi Avenue has changed

The guideline value for Meenakshi Avenue has seen several revisions over the years. In 2003, the value was Rs 181 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. The value then rose dramatically to Rs 3,200 per sq.ft in 2012, before dropping to Rs 2,144 per sq.ft in 2017. Following this, the value increased to Rs 3,200 per sq.ft in 2023, and finally reached Rs 3,520 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,845%. The register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, making the current value of Meenakshi Avenue above that median.

• M.C. Raja Street: Rs 2,750 per sq.ft (2024)
• M.C.M. Nagar: Rs 2,750 per sq.ft (2024)
• M.E.S. Colony: Rs 2,750 per sq.ft (2024)
• M.E.S. Lane Presently Veerapadran Street: Rs 2,750 per sq.ft (2024)
• Masthan Sheriff Nagar: Rs 3,520 per sq.ft (2024)
• Market Road: Rs 3,520 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 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Together, the total cost for stamp duty and registration fee would be Rs 3,16,800. 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 detailed calculations.

Which Sub Registrar Office covers Meenakshi Avenue?

The Sub Registrar Office that covers Meenakshi Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value of the property, which is crucial for calculating stamp duty and registration fees.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable fees. Therefore, understanding the guideline value is important for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Meenakshi Avenue?

The current guideline value of Meenakshi Avenue is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 181 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1,845% from 2003 to 2024.

What is the median guideline value in Zaminpallavaram?

The median guideline value for the 638 streets in Zaminpallavaram is Rs 3,300 per sq.ft, with Meenakshi Avenue's current value being above this median.

What are the stamp duty and registration fees for Meenakshi Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 35,20,000, with a stamp duty of Rs 2,46,400 and a registration fee of Rs 70,400, totaling Rs 3,16,800.

Where is the Sub Registrar Office for Meenakshi Avenue located?

The Sub Registrar Office for Meenakshi Avenue is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.