Guideline Value for Meenakshi Street (Lakshmi amman Nagar)

Meenakshi Street (Lakshmi amman Nagar) guideline value

The current guideline value of Meenakshi Street (Lakshmi amman Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Meenakshi Street (Lakshmi amman Nagar) has changed

The guideline value for Meenakshi Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, and then an increase to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

Between the 2012 and 2017 revisions, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has seen an increase of 8%. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Meenakshi Street (Lakshmi amman Nagar) is above this median.

• Meenakshi Street (M.R. Nagar): Rs 2,700 per sq.ft (2024)
• Meenambal Road (Vivekananda Nagar): Rs 3,000 per sq.ft (2024)
• Meenambal Salai (Krishnamoorthy Nagar): Rs 3,250 per sq.ft (2024)
• Meenakshi 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Meenakshi 1st Cross St: Rs 2,700 per sq.ft (2024)
• M.E.S. Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Street (Lakshmi amman Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenakshi Street (Lakshmi amman Nagar)?

The Sub Registrar Office that covers Meenakshi Street (Lakshmi amman Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Meenakshi Street (Lakshmi amman Nagar)?

The current guideline value of Meenakshi Street (Lakshmi amman Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Meenakshi Street (Lakshmi amman Nagar)?

The land classification for Meenakshi Street (Lakshmi amman Nagar) is Residential Class II Type - I.

Which Sub Registrar Office covers Meenakshi Street (Lakshmi amman Nagar)?

The Madhavaram Sub Registrar Office covers Meenakshi Street (Lakshmi amman Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for property in Meenakshi Street (Lakshmi amman Nagar)?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,43,000.