Guideline Value for Meenambal Salai (Vivekananda Nagar)

Meenambal Salai (Vivekananda Nagar) guideline value

The current guideline value for Meenambal Salai (Vivekananda Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Commercial Class I Type - I.

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

The guideline value has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to the 2024 revision, there has been a significant increase of 64%, bringing the current value to Rs 3,301 per sq.ft.

Overall, comparing the 2012 revision to the 2024 revision, there has been a slight increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the village is Rs 2,700 per sq.ft, making the current value of Rs 3,301 per sq.ft for Meenambal Salai (Vivekananda Nagar) above the median.

• Meenambal Salai (Kaviarasu Kannadhasan Nagar): Rs 3,301 per sq.ft (2024)
• Meenambal Salai (General Avenue): Rs 3,301 per sq.ft (2024)
• Meenambal Sivaraj Street: Rs 2,700 per sq.ft (2024)
• Meenambal Salai (Anmai Krishnamoorthy Nagar): Rs 3,301 per sq.ft (2024)
• Meenambal Salai Ambedkar 2nd Street: Rs 3,301 per sq.ft (2024)
• Meenambal Salai Ambedkar 1st Street: Rs 3,301 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total fees to Rs 2,97,090. It is important to note that the 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 Salai (Vivekananda Nagar)?

The Sub Registrar Office that covers Meenambal Salai (Vivekananda 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 Kodungaiyur

The guideline value is a crucial factor when registering property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

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

The current guideline value of Meenambal Salai (Vivekananda Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,000 per sq.ft to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,301 per sq.ft in 2024.

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

The land classification for Meenambal Salai (Vivekananda Nagar) is Commercial Class I Type - I.

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

For a property valued at Rs 33,01,000, the stamp duty at 7% is Rs 2,31,070, and the registration fee at 2% is Rs 66,020, totaling Rs 2,97,090.

Which office handles registrations for Meenambal Salai (Vivekananda Nagar)?

The Madhavaram Sub Registrar Office handles registrations for Meenambal Salai (Vivekananda Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.