Guideline Value for Meenakshi Nagar

Meenakshi Nagar guideline value

The current guideline value of Meenakshi Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Meenakshi Nagar has changed

The guideline value of Meenakshi Nagar has undergone several revisions over the years. The earliest recorded figure in the register is from 2002, which was Rs 121 per sq.ft. This value increased significantly to Rs 328 per sq.ft in 2007, marking a 171% rise. In 2012, the value was revised to Rs 1,500 per sq.ft, reflecting a substantial increase of 357%. However, in 2017, it dropped to Rs 1,005 per sq.ft, a decrease of 33%. The value remained unchanged at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, indicating a 0% change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by 1140%. Notably, there is no figure recorded for the year 2003 for this street in the register.

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 guideline value in this area is Rs 1,500 per sq.ft, which is equal to the current figure for Meenakshi Nagar.

• Meenakshi Avenue: Rs 1,500 per sq.ft (2024)
• Masoothi Street: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total 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, bringing the total fees to 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.

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

Which Sub Registrar Office covers Meenakshi Nagar?

The Sub Registrar Office that covers Meenakshi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-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 the registration process of property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Meenakshi Nagar?

The current guideline value of Meenakshi Nagar 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 various changes, with the most significant increase occurring between 2007 and 2012. The overall increase from 2002 to 2024 is 1140%.

What are the other streets in Nandhivaram with similar guideline values?

Other streets in Nandhivaram with a guideline value of Rs 1,500 per sq.ft include Meenakshi Avenue, Masoothi Street, Maruthi Nagar, M.G. Nagar Part-IA, and Manigandapuram.

Where is the Gooduvancheri Sub Registrar Office located?

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

How is stamp duty calculated in Meenakshi Nagar?

Stamp duty in Meenakshi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the same value.