Guideline Value for Meenambal Salai

Meenambal Salai guideline value

The current guideline value of Meenambal Salai 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 has changed

The guideline value for Meenambal Salai has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 3,000 per sq.ft. This figure was then revised to Rs 2,010 per sq.ft in 2017, a decrease of 33%. However, the value saw a significant increase to Rs 3,000 per sq.ft in 2023, followed by the latest revision to Rs 3,301 per sq.ft in 2024, marking a 10% increase.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The changes between the most recent revisions include a 10% rise from 2023 to 2024 and a 49% increase from 2017 to 2023. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Meenambal Salai's 2024 figure above this median.

• Meenambal Salai (Abirami Avenue): Rs 3,301 per sq.ft (2024)
• Meenambal Salai Ambedkar 1st Street: Rs 3,301 per sq.ft (2024)
• Meenambal Salai Ambedkar 2nd Street: 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

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 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?

The Sub Registrar Office that covers Meenambal Salai 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 during property registration in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that transactions are conducted transparently and in accordance with the law.

Frequently asked questions

What is the current guideline value of Meenambal Salai?

The current guideline value of Meenambal Salai 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, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,301 per sq.ft in 2024.

What is the land classification for Meenambal Salai?

Meenambal Salai is classified as Commercial Class I Type - I under the Madhavaram SRO.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,97,090.

Where can I find the Sub Registrar Office for Meenambal Salai?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by following the provided link.