Guideline Value for Meenambal Sivaraj Street

Meenambal Sivaraj Street guideline value

The current guideline value of Meenambal Sivaraj Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Meenambal Sivaraj Street has changed

The guideline value for Meenambal Sivaraj Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, an increase of 8% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 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 the median being Rs 2,700 per sq.ft. Meenambal Sivaraj Street's 2024 figure aligns perfectly with this median.

• Meenambal Salai (Vivekananda Nagar): Rs 3,301 per sq.ft (2024)
• Meenambal Salai (Kaviarasu Kannadhasan Nagar): Rs 3,301 per sq.ft (2024)
• Meenambal Salai (General Avenue): Rs 3,301 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 Sivaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total costs to Rs 2,43,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for a more personalized estimate.

Which Sub Registrar Office covers Meenambal Sivaraj Street?

The Sub Registrar Office that covers Meenambal Sivaraj Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value, which is essential for both buyers and sellers.

Additionally, the guideline value helps in establishing a reference point for property pricing in the area. It serves as a benchmark for both buyers and sellers during negotiations, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Meenambal Sivaraj Street?

The current guideline value of Meenambal Sivaraj Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 61% over this period.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Which office handles property registration for Meenambal Sivaraj Street?

The Madhavaram Sub Registrar Office handles property registration for Meenambal Sivaraj Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Meenambal Sivaraj Street?

Meenambal Sivaraj Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.