Guideline Value for Meenambal Nagar 4th Street

Meenambal Nagar 4th Street guideline value

The current guideline value of Meenambal Nagar 4th 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 4th Street has changed

The guideline value for Meenambal Nagar 4th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a 33% drop. The most recent revision in 2024 has increased the guideline value to Rs 1,100 per sq.ft, representing a 64% increase from the 2017 figure.

It is important to note that there are no figures available 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, with a median value of Rs 1,600 per sq.ft. Meenambal Nagar 4th Street's 2024 figure is below this median.

• Meenambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 1st 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 4th 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 fees together to Rs 99,000. It is important to note that 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 4th Street?

The Meenambal Nagar 4th Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Meenambal Nagar 4th Street?

The current guideline value of Meenambal Nagar 4th 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, showing an overall increase of 120%. The value decreased to Rs 670 per sq.ft in 2017 before rising again in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Meenambal Nagar 4th Street?

The Royapuram Sub Registrar Office handles registrations for Meenambal Nagar 4th Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Meenambal Nagar 4th Street?

Meenambal Nagar 4th Street is classified as Residential Class II Type - II, which indicates its suitability for residential purposes.