Guideline Value for Meenakshi Nagar

Meenakshi Nagar guideline value

The current guideline value of Meenakshi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Meenakshi Nagar has changed

The guideline value for Meenakshi Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 670 per sq.ft. In the following revisions, the guideline value increased to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, showing a significant increase of 49% from 2017 to 2023 and maintaining the same value from 2023 to 2024.

The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, making Meenakshi Nagar's 2024 figure of Rs 1,000 per sq.ft above the median.

• Mel Pushkarani Street: Rs 700 per sq.ft (2024)
• Metro Global City House site Scheme: Rs 800 per sq.ft (2024)
• Metro Green Medows: Rs 1,350 per sq.ft (2024)
• Matha Nagar: Rs 1,200 per sq.ft (2024)
• M G R Nagar: Rs 700 per sq.ft (2024)
• Mohan Avenue: Rs 700 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 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sriperumbudur A. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When engaging in property transactions, it is essential to be aware of the guideline value as it impacts the overall costs involved in the registration process. Buyers and sellers should ensure they are informed about the current guideline value to avoid any discrepancies during the registration.

Frequently asked questions

What is the current guideline value of Meenakshi Nagar?

The current guideline value of Meenakshi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What is the land classification for Meenakshi Nagar?

Meenakshi Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What is the registration office for Meenakshi Nagar?

The registration office for Meenakshi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property in Meenakshi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 70,000.