Guideline Value for Meenakshi Nagar 4th Street

Meenakshi Nagar 4th Street guideline value

The current guideline value of Meenakshi Nagar 4th Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Meenakshi Nagar 4th Street has changed

Over the years, the guideline value of Meenakshi Nagar 4th Street has seen several revisions. The 2012 revision set the value at Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,600 per sq.ft in the 2023 revision, and finally, it rose to Rs 3,960 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, which is the same as the current value for Meenakshi Nagar 4th Street.

• Meenakshi Nagar 3rd Street: Rs 3,960 per sq.ft (2024)
• Meenakshi Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Meenakshi Nagar 1st Street: Rs 3,960 per sq.ft (2024)
• Meenakshi Nagar: Rs 3,960 per sq.ft (2024)
• Meiyammai Street: Rs 4,290 per sq.ft (2024)
• Melpallikuppam Elumalai Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Meenakshi Nagar 4th Street?

The Sub Registrar Office that covers Meenakshi Nagar 4th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency in property transactions and helps prevent undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value of Meenakshi Nagar 4th Street?

The current guideline value of Meenakshi Nagar 4th Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, which is a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value would be Rs 39,60,000, leading to a stamp duty of Rs 2,77,200 and a registration fee of Rs 79,200.

Which Sub Registrar Office handles registrations for Meenakshi Nagar 4th Street?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles registrations for Meenakshi Nagar 4th Street.

What is the land classification for Meenakshi Nagar 4th Street?

Meenakshi Nagar 4th Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.