Guideline Value for Meenambakkam Building society Colony

Meenambakkam Building society Colony guideline value

The current guideline value of Meenambakkam Building society Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Thalakanancherry village under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Meenambakkam Building society Colony has changed

The guideline value for this street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,700 per sq.ft. It then increased significantly to Rs 4,000 per sq.ft in 2012, marking a 135% rise. However, it decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft following a 10% increase in the 2024 revision.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 159%. The register has no figures available for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a guideline value for 2024 ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, and the guideline value of Meenambakkam Building society Colony is above this median.

• Medavakkam Main road: Rs 5,500 per sq.ft (2024)
• M G R Road: Rs 5,500 per sq.ft (2024)
• M G R Road West Side: Rs 4,400 per sq.ft (2024)
• M G R Street (Gandhi Nagar): Rs 4,400 per sq.ft (2024)
• Minaral Metal Trading Corporation of India (Residential Colony): Rs 4,400 per sq.ft (2024)
• Manimegalai Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Meenambakkam Building society Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 Meenambakkam Building society Colony?

The Meenambakkam Building society Colony falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Meenambakkam Building society Colony?

The current guideline value of Meenambakkam Building society Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 159% over this period.

What is the registration office for Meenambakkam Building society Colony?

The registration office for Meenambakkam Building society Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,08,000.

What are the other streets in Thalakanancherry with similar guideline values?

Other streets in Thalakanancherry include Medavakkam Main road and M G R Road, both with a guideline value of Rs 5,500 per sq.ft, and several others at Rs 4,400 and Rs 3,900 per sq.ft.