Guideline Value for Meenambal Nagar 5th Street

Meenambal Nagar 5th Street guideline value

The current guideline value of Meenambal Nagar 5th 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 5th Street has changed

The guideline value for Meenambal Nagar 5th Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The register does not contain figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, 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. The guideline value of Meenambal Nagar 5th Street is below this median.

• Meenambal Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar Cross Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Meenambal Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be 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, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meenambal Nagar 5th Street?

The Meenambal Nagar 5th Street falls under the Royapuram Sub Registrar Office located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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 the basis for calculating the stamp duty and registration fees, ensuring that the government receives due revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers and sellers should consult the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Meenambal Nagar 5th Street?

The current guideline value of Meenambal Nagar 5th 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, reflecting an overall increase of 120% over the years.

What is the land classification for Meenambal Nagar 5th Street?

Meenambal Nagar 5th Street is classified as Residential Class II Type - II.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Meenambal Nagar 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 11,00,000.