Guideline Value for Meenakshi Sundaram Street / Kalanyipuram

Meenakshi Sundaram Street / Kalanyipuram guideline value

The current guideline value of Meenakshi Sundaram Street / Kalanyipuram is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Meenakshi Sundaram Street / Kalanyipuram has changed

The guideline value for Meenakshi Sundaram Street / Kalanyipuram has undergone several revisions over the years. Starting from Rs 145 per sq.ft in 2002, it increased to Rs 164 per sq.ft in 2003, marking a 13% rise. In 2007, the value jumped to Rs 260 per sq.ft, a significant increase of 59%. The 2017 revision saw the value further escalate to Rs 1,206 per sq.ft, reflecting a remarkable growth of 364%. By 2023, the guideline value reached Rs 1,800 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, indicating a 10% rise from 2023.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,266%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Meenakshi Sundaram Street / Kalanyipuram's 2024 figure below that median.

• Meenakshi Sundaram Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Meenakshi Street: Rs 1,980 per sq.ft (2024)
• Meenambal Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• Meenakshi Nagar: 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 Sundaram Street / Kalanyipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meenakshi Sundaram Street / Kalanyipuram?

The Sub Registrar Office that covers Meenakshi Sundaram Street / Kalanyipuram is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 in the registration process when buying or selling property in Pammal. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and legally, protecting the interests of both the buyer and the seller.

Frequently asked questions

What is the current guideline value of Meenakshi Sundaram Street / Kalanyipuram?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 145 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1,266%.

What is the registration office for Meenakshi Sundaram Street / Kalanyipuram?

The registration office for Meenakshi Sundaram Street / Kalanyipuram is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty rates applicable in Pammal?

The stamp duty in Pammal is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Are there other streets with the same guideline value in Pammal?

Yes, there are several other streets in Pammal that share the same guideline value of Rs 1,980 per sq.ft for 2024, including Meenakshi Sundaram Street, Nagelkeni, Meenakshi Street, and others.