Guideline Value for Meenakshi Nagar

Meenakshi Nagar guideline value

The current guideline value of Meenakshi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A, which falls under the Kunrathur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Meenakshi Nagar has changed

The guideline value for Meenakshi Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision. The latest revision in 2024 has set the value at Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The increase from 2017 to 2023 was 49%, indicating a substantial rise in property values during that period.

Guideline values in Mangadu -A

In Mangadu -A, there are a total of 208 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value for Meenakshi Nagar is below this median.

• Meera Nagar: Rs 2,090 per sq.ft (2024)
• Melma Nagar: Rs 2,200 per sq.ft (2024)
• Mel Ragunathapuram: Rs 1,980 per sq.ft (2024)
• Masilamani Nagar Annexe: Rs 1,480 per sq.ft (2024)
• Masilamani Nagar: Rs 1,870 per sq.ft (2024)
• Maruthy Nagar: Rs 1,870 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. Please 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 details.

Which Sub Registrar Office covers Meenakshi Nagar?

The Sub Registrar Office that covers Meenakshi Nagar 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 Mangadu -A

The guideline value is a crucial factor in property transactions in Mangadu -A. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to determine the applicable fees, which are essential for the legal transfer of ownership. It is important to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Meenakshi Nagar?

The current guideline value of Meenakshi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 871 per sq.ft to Rs 1,430 per sq.ft in 2024, marking an overall rise of 64%.

What are the other streets in Mangadu -A with their guideline values?

Other streets in Mangadu -A include Meera Nagar at Rs 2,090 per sq.ft, Melma Nagar at Rs 2,200 per sq.ft, and Masilamani Nagar at Rs 1,870 per sq.ft, among others.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Meenakshi Nagar?

Stamp duty in Meenakshi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 at a rate of 7%.