Guideline Value for Meenambal Sivaraj Street

Meenambal Sivaraj Street guideline value

The current guideline value of Meenambal Sivaraj Street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO), and falls under the Residential Class III Type - II land classification.

How the guideline value of Meenambal Sivaraj Street has changed

Over the years, the guideline value of Meenambal Sivaraj Street has seen significant changes. The earliest recorded figure is from 2002, where the value was Rs 601 per sq.ft. This increased to Rs 663 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,000 per sq.ft in 2007, reflecting a 51% increase. By 2012, the value was Rs 3,100 per sq.ft, showing a substantial increase of 210% from the previous revision. However, it dropped to Rs 2,077 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 3,100 per sq.ft in 2023, followed by a further rise to Rs 3,400 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 466%. There are no records of revisions for this street in years other than those mentioned.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Meenambal Sivaraj Street's 2024 figure is below this median.

• Meenambal sivaraj Nagar: Rs 3,400 per sq.ft (2024)
• Meeran Sahib Street: Rs 3,900 per sq.ft (2024)
• McNicholas road 4th Lane: Rs 11,000 per sq.ft (2024)
• McNicholas road 3rd lane: Rs 11,000 per sq.ft (2024)
• McNicholas road 2nd lane: Rs 11,000 per sq.ft (2024)
• McNicholas road1st lane: Rs 11,000 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 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, while the registration fee at 2% would be Rs 68,000. Together, the total fees would be Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meenambal Sivaraj Street?

The Sub Registrar Office that covers Meenambal Sivaraj Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Egmore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official value set by the government.

Frequently asked questions

What is the current guideline value of Meenambal Sivaraj Street?

The current guideline value of Meenambal Sivaraj Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 601 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,06,000, based on the guideline value of Rs 34,00,000.

Which Sub Registrar Office covers Meenambal Sivaraj Street?

The Periamet Sub Registrar Office covers Meenambal Sivaraj Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Meenambal Sivaraj Street?

Meenambal Sivaraj Street falls under the Residential Class III Type - II land classification, indicating its designated use for residential purposes.