Guideline Value for Meenambal Nagar 2nd Street

Meenambal Nagar 2nd Street guideline value

The current guideline value of Meenambal Nagar 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - II.

How the guideline value of Meenambal Nagar 2nd Street has changed

The guideline value for Meenambal Nagar 2nd Street has undergone several revisions since 2007. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% increase. However, in 2017, the value decreased to Rs 670 per sq.ft, a decline of 33%. The most recent revision in 2024 saw the value rise to Rs 1,100 per sq.ft, reflecting a significant increase of 64% from 2017.

Overall, from 2007 to 2024, the guideline value has increased by 120%. Notably, the register has no figures for the years 2023, 2003, and 2002 concerning this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value of Meenambal Nagar 2nd Street is below this median.

• Meenambal Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Meenambal Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenambal Nagar 2nd Street?

The Sub Registrar Office that covers Meenambal Nagar 2nd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value helps determine the minimum price at which the property can be sold. This ensures that the transaction is documented accurately and reflects the official value set by the authorities.

Frequently asked questions

What is the current guideline value of Meenambal Nagar 2nd Street?

The current guideline value of Meenambal Nagar 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 120%. There was a decrease to Rs 670 per sq.ft in 2017, followed by an increase in 2024.

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

Other streets in Tondaiarpet with the same guideline value of Rs 1,100 per sq.ft include Meenambal Nagar 1st Street, 3rd Street, 4th Street, 5th Street, 6th Street, and Cross Street.

Where is the Sub Registrar Office for Meenambal Nagar 2nd Street located?

The Sub Registrar Office for Meenambal Nagar 2nd Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Meenambal Nagar 2nd Street?

Stamp duty for properties in Meenambal Nagar 2nd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 11,00,000, leading to stamp duty and registration fees based on this amount.