Guideline Value for Meenambal Nagar

Meenambal Nagar guideline value

The current guideline value of Meenambal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - II.

How the guideline value of Meenambal Nagar has changed

The guideline value for Meenambal Nagar has undergone several revisions over the years. The register shows the following figures: in 2002, the value was Rs 323 per sq.ft, which increased to Rs 398 per sq.ft in 2003. From 2003, the value rose by 26% to Rs 500 per sq.ft in 2007. The next revision in 2012 saw a significant increase of 300%, bringing the value to Rs 2,000 per sq.ft. However, this value decreased by 33% to Rs 1,340 per sq.ft in 2017. The guideline value then increased by 49% to Rs 2,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 2,200 per sq.ft in 2024.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 581%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Meenambal Nagar is below this median.

• MeenambalLane: Rs 2,200 per sq.ft (2024)
• Meenambal St: Rs 2,200 per sq.ft (2024)
• Meenambal Cross Street: Rs 2,200 per sq.ft (2024)
• Meera Nagar i: Rs 880 per sq.ft (2024)
• Meera Nagar ii: Rs 880 per sq.ft (2024)
• Meera Nagar iii: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Meenambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meenambal Nagar?

The Sub Registrar Office that covers Meenambal Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is either equal to or greater than the guideline value. This ensures that the appropriate fees are calculated based on the higher amount, safeguarding the interests of the state and the parties involved.

Frequently asked questions

What is the current guideline value of Meenambal Nagar?

The current guideline value of Meenambal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 323 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 581%.

What are the stamp duty and registration fees for property in Meenambal Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Meenambal Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Meenambal Nagar, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Meenambal Nagar?

The land classification for Meenambal Nagar is Residential Class I Type - II.