Guideline Value for Meenambal Nagar 3rd Street

Meenambal Nagar 3rd Street guideline value

The current guideline value of Meenambal Nagar 3rd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - II.

How the guideline value of Meenambal Nagar 3rd Street has changed

The guideline value of Meenambal Nagar 3rd Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the value was Rs 500 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a significant increase to Rs 1,100 per sq.ft, which is a 64% rise from the 2017 figure.

It is important to note that there are no figures recorded for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Meenambal Nagar 3rd Street's 2024 figure below that median.

• Meenambal Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 1st 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 3rd 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, and the registration fee at 2% would be Rs 22,000, bringing the total charges 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 on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meenambal Nagar 3rd Street?

The Sub Registrar Office that covers Meenambal Nagar 3rd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the buyer is typically required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Meenambal Nagar 3rd Street?

The current guideline value of Meenambal Nagar 3rd 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% over the years.

What is the land classification of Meenambal Nagar 3rd Street?

Meenambal Nagar 3rd Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Meenambal Nagar 3rd Street?

The Sub Registrar Office for Meenambal Nagar 3rd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Meenambal Nagar 3rd Street?

Stamp duty for properties in Meenambal Nagar 3rd Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.