Guideline Value for Meenakshi Nagar Extn

Meenakshi Nagar Extn guideline value

The current guideline value for Meenakshi Nagar Extn is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class V Type - II.

How the guideline value of Meenakshi Nagar Extn has changed

Over the years, the guideline value for Meenakshi Nagar Extn has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, but then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose to Rs 800 per sq.ft in 2023 and reached the current value of Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 340%. The changes between revisions are notable: from 2007 to 2012, there was a remarkable increase of 300%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a 10% increase was observed from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that the guideline value for Meenakshi Nagar Extn is below this median.

• Meenakshi Nagar: Rs 880 per sq.ft (2024)
• Masilamani Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Mettu Street: Rs 1,300 per sq.ft (2024)
• Masilamanieswarar Nagar Golden 6th Cross Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar Golden 5th Cross Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar Golden 4th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenakshi Nagar Extn?

The Meenakshi Nagar Extn area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more details.

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

When buying or selling property in Thirumullaivoyal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, and it is used to calculate the applicable fees during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions. The registration office will refer to the guideline value to ensure that the transaction is recorded accurately and in compliance with legal requirements.

Frequently asked questions

What is the current guideline value for Meenakshi Nagar Extn?

The current guideline value for Meenakshi Nagar Extn is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing an overall increase of 340% over the years.

What is the median guideline value in Thirumullaivoyal?

The median guideline value in Thirumullaivoyal is Rs 2,400 per sq.ft, which is higher than the current value for Meenakshi Nagar Extn.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Meenakshi Nagar Extn?

The Ambattur Sub Registrar Office handles registrations for Meenakshi Nagar Extn, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.