Guideline Value for Meenakshi Sundaram Street, Nagelkeni

Meenakshi Sundaram Street, Nagelkeni guideline value

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

How the guideline value of Meenakshi Sundaram Street, Nagelkeni has changed

In the 2017 revision, the guideline value was Rs 1,206 per sq.ft. This figure saw a significant increase to Rs 1,800 per sq.ft in the 2023 revision, marking a rise of 49%. The most recent revision in 2024 further increased the value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Meenakshi Sundaram Street's 2024 guideline value is below this median.

• Meenakshi Sundaram Street / Kalanyipuram: 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, Nagelkeni

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 cost together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Meenakshi Sundaram Street, Nagelkeni?

The Sub Registrar Office that covers Meenakshi Sundaram Street, Nagelkeni 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 an important factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the registration office uses the guideline value to calculate the applicable charges. Buyers should be aware that the charges are based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Meenakshi Sundaram Street?

The current guideline value of Meenakshi Sundaram 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 changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets in Pammal with the same guideline value?

Other streets in Pammal with the same guideline value of Rs 1,980 per sq.ft include Meenakshi Sundaram Street / Kalanyipuram, Meenakshi Street, Meenambal Street / Nagalkeni, Meenakshi Nagar, and MC Raja Street, Nagelkeni.

What is the registration fee and stamp duty for property on this street?

The stamp duty for a property on Meenakshi Sundaram Street is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total cost would amount to Rs 1,78,200.

Which Sub Registrar Office is responsible for Meenakshi Sundaram Street?

The Pammal Sub Registrar Office is responsible for Meenakshi Sundaram Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.