Guideline Value for Meenakshi School Road (Gnana Moorthy Nagar)

Meenakshi School Road (Gnana Moorthy Nagar) guideline value

The current guideline value of Meenakshi School Road (Gnana Moorthy Nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village, under the Ambattur SRO, with a land classification of Residential Special Type - I.

How the guideline value of Meenakshi School Road (Gnana Moorthy Nagar) has changed

The guideline value for Meenakshi School Road has seen several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and further rose to Rs 1,700 per sq.ft in 2024, marking a 6% increase from the previous year.

From 2017 to 2023, the increase was notable, with a 49% rise. Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Meenakshi School Road's 2024 figure of Rs 1,700 per sq.ft is above this median.

• Meenakshi Koil Street: Rs 1,001 per sq.ft (2024)
• Menambedu T.B. Colony: Rs 1,300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Maga Ganapathy Street: Rs 1,001 per sq.ft (2024)
• Munusamy Koil Street: Rs 1,002 per sq.ft (2024)
• Madhavi Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi School Road (Gnana Moorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenakshi School Road (Gnana Moorthy Nagar)?

The Sub Registrar Office that covers Meenakshi School Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Meenakshi School Road?

The current guideline value of Meenakshi School Road (Gnana Moorthy Nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions, with the most recent increase being from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 6%.

What is the land classification of Meenakshi School Road?

The land classification of Meenakshi School Road (Gnana Moorthy Nagar) is Residential Special Type - I.

Where can I find the Sub Registrar Office for Meenakshi School Road?

The Sub Registrar Office covering Meenakshi School Road is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Menambedu?

Stamp duty for properties in Menambedu is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be calculated accordingly, along with the registration fees.