Guideline Value for Meenambal Salai (Krishnamoorthy Nagar)

Meenambal Salai (Krishnamoorthy Nagar) guideline value

The current guideline value of Meenambal Salai (Krishnamoorthy Nagar) is Rs 3,250 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Meenambal Salai (Krishnamoorthy Nagar) has changed

Over the years, the guideline value of Meenambal Salai (Krishnamoorthy Nagar) has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,250 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 8% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Meenambal Salai (Krishnamoorthy Nagar) is above this median.

• Meenambal Road (Vivekananda Nagar): Rs 3,000 per sq.ft (2024)
• Meenakshi Street (M.R. Nagar): Rs 2,700 per sq.ft (2024)
• Meenakshi Street (Lakshmi amman Nagar): Rs 2,700 per sq.ft (2024)
• Meenakshi 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Meenakshi 1st Cross St: Rs 2,700 per sq.ft (2024)
• M.E.S. Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Meenambal Salai (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value would be Rs 32,50,000. The stamp duty at 7% would amount to Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, bringing the total fees to Rs 2,92,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Meenambal Salai (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Meenambal Salai (Krishnamoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented correctly according to government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenues from property transactions in the area.

Frequently asked questions

What is the current guideline value of Meenambal Salai (Krishnamoorthy Nagar)?

The current guideline value of Meenambal Salai (Krishnamoorthy Nagar) is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,250 per sq.ft in 2024. The value was previously Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Meenambal Salai (Krishnamoorthy Nagar)?

The land classification for Meenambal Salai (Krishnamoorthy Nagar) is Residential Special Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Meenambal Salai (Krishnamoorthy Nagar)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 32,50,000, the stamp duty would be Rs 2,27,500.