Guideline Value for Meenambal Salai Ambedkar 1st Street

Meenambal Salai Ambedkar 1st Street guideline value

The current guideline value of Meenambal Salai Ambedkar 1st Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Commercial Class I Type - I.

How the guideline value of Meenambal Salai Ambedkar 1st Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest 2024 revision shows an increase to Rs 3,301 per sq.ft, which is a 64% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Meenambal Salai Ambedkar 1st Street is above this median.

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

Stamp duty and registration fee for property in Meenambal Salai Ambedkar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020. Together, the total cost would be Rs 2,97,090. 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 Ambedkar 1st Street?

The Sub Registrar Office that covers Meenambal Salai Ambedkar 1st Street 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 in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Meenambal Salai Ambedkar 1st Street?

The current guideline value of Meenambal Salai Ambedkar 1st Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 3,000 per sq.ft to Rs 3,301 per sq.ft in 2024. This includes a decrease to Rs 2,010 per sq.ft in 2017 and a subsequent increase in 2024.

What is the land classification for Meenambal Salai Ambedkar 1st Street?

The land classification for Meenambal Salai Ambedkar 1st Street is Commercial Class I 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 stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate amount is collected during the registration process.