Guideline Value for Meenakshi Street

Meenakshi Street guideline value

The current guideline value of Meenakshi Street in Pammal village, under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under Residential Class II Type - II land classification.

How the guideline value of Meenakshi Street has changed

The guideline value for Meenakshi Street has seen significant changes over the years. In 2002, the guideline value was Rs 143 per sq.ft. This increased to Rs 162 per sq.ft in 2003, marking a 13% rise. The value then saw a substantial jump to Rs 260 per sq.ft in 2007, which was a 60% increase from the previous revision. By 2017, the value further escalated to Rs 1,206 per sq.ft, reflecting a remarkable 364% increase from 2007.

From 2017 to 2023, the guideline value rose to Rs 1,800 per sq.ft, which is a 49% increase. The latest revision in 2024 set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year. It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Meenakshi Street's 2024 figure below this median.

• Meenakshi Sundaram Street / Kalanyipuram: Rs 1,980 per sq.ft (2024)
• Meenakshi Sundaram Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Meenambal Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• MC Raja Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Mayor Chittibabu Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Meenakshi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. 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 details.

Which Sub Registrar Office covers Meenakshi Street?

The Sub Registrar Office that covers Meenakshi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that both buyers and sellers adhere to government regulations.

When you buy or sell property, the guideline value helps in establishing a fair price for the transaction. This value is essential for legal documentation and serves as a reference point for property valuation in the region.

Frequently asked questions

What is the current guideline value of Meenakshi Street?

The current guideline value of Meenakshi Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 143 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1285% over the years.

What is the land classification for Meenakshi Street?

Meenakshi Street falls under Residential Class II Type - II land classification, which is important for determining its use and value.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.