Guideline Value for Meenakshi Nagar (Near G.S.T. Road)

Meenakshi Nagar (Near G.S.T. Road) guideline value

The current guideline value of Meenakshi Nagar (Near G.S.T. Road) is Rs 3,500 per sq.ft, effective from 1 July 2024. This property is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Meenakshi Nagar (Near G.S.T. Road) has changed

In the 2017 revision, the guideline value was set at Rs 2,345 per sq.ft. This figure remained unchanged in the 2023 revision, which was also Rs 3,500 per sq.ft. The most recent 2024 revision has kept the guideline value at Rs 3,500 per sq.ft, resulting in a 49% increase from the 2017 figure. Notably, there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value saw an increase of 49%, and there has been no change from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Gooduvancheri

Gooduvancheri village has a total of 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Meenakshi Nagar (Near G.S.T. Road) above this median.

• Meenakshi Nagar (S.No. 174/1 -6): Rs 2,001 per sq.ft (2024)
• Masoothi Street: Rs 1,500 per sq.ft (2024)
• M.G.R. Nagar: Rs 1,200 per sq.ft (2024)
• M.K. Nagar: Rs 1,500 per sq.ft (2024)
• Moganapriya Nagar: Rs 1,500 per sq.ft (2024)
• Mohanapriya Nagar Extn: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Nagar (Near G.S.T. Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, resulting in a total cost of Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenakshi Nagar (Near G.S.T. Road)?

The Sub Registrar Office that covers Meenakshi Nagar (Near G.S.T. Road) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

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

Frequently asked questions

What is the current guideline value of Meenakshi Nagar (Near G.S.T. Road)?

The current guideline value of Meenakshi Nagar (Near G.S.T. Road) is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,500 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2024.

What is the median guideline value in Gooduvancheri?

The median guideline value for the 129 streets in Gooduvancheri is Rs 1,500 per sq.ft, with Meenakshi Nagar (Near G.S.T. Road) being above this median at Rs 3,500 per sq.ft.

What are the stamp duty rates for properties in Meenakshi Nagar?

The stamp duty for properties in Meenakshi Nagar is charged at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 35,00,000 would incur a stamp duty of Rs 2,45,000.

Where is the Sub Registrar Office for Meenakshi Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.