Guideline Value for Meenambal Salai Ambedkar 2nd Street

Meenambal Salai Ambedkar 2nd Street guideline value

The current guideline value of Meenambal Salai Ambedkar 2nd Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Meenambal Salai Ambedkar 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the 2024 revision, rising to Rs 3,301 per sq.ft, which represents a 64% increase from the 2017 figure. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This reflects the changes in the valuation process and the adjustments made by the authorities over the years.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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 2nd Street is above this median.

• Meenambal Salai Ambedkar 1st Street: Rs 3,301 per sq.ft (2024)
• Meenambal Salai (Anmai Krishnamoorthy Nagar): Rs 3,301 per sq.ft (2024)
• Meenambal Salai (Abirami Avenue): Rs 3,301 per sq.ft (2024)
• Meenambal Salai (General Avenue): Rs 3,301 per sq.ft (2024)
• Meenambal Salai: 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 2nd 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, while the registration fee at 2% would be Rs 66,020, bringing the total fees together to Rs 2,97,090. It is important to note that 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 2nd Street?

The Meenambal Salai Ambedkar 2nd Street falls under 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 plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are in compliance with local regulations.

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

Frequently asked questions

What is the current guideline value of Meenambal Salai Ambedkar 2nd Street?

The current guideline value of Meenambal Salai Ambedkar 2nd Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,301 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Meenambal Salai Ambedkar 2nd Street?

Meenambal Salai Ambedkar 2nd Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Meenambal Salai Ambedkar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the 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. For example, a property valued at Rs 33,01,000 would incur a stamp duty of Rs 2,31,070 at 7%.