Guideline Value for Meenambal St

Meenambal St guideline value

The current guideline value of Meenambal St is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Meenambal St has changed

The guideline value for Meenambal St has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a 300% increase. However, the 2017 revision saw a decrease to Rs 1,340 per sq.ft, a drop of 33%. By the 2023 revision, the value rose to Rs 2,000 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Meenambal St is below this median.

• Meenambal Nagar: Rs 2,200 per sq.ft (2024)
• MeenambalLane: Rs 2,200 per sq.ft (2024)
• Meenambal Cross Street: Rs 2,200 per sq.ft (2024)
• Meera Nagar i: Rs 880 per sq.ft (2024)
• Meera Nagar ii: Rs 880 per sq.ft (2024)
• Meera Nagar iii: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Meenambal St

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meenambal St?

The Sub Registrar Office that covers Meenambal St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram. It is used to determine the stamp duty and registration fees that need to be paid during the buying or selling process. This value ensures that the transaction is recorded accurately and reflects the market conditions as per the registration department's guidelines.

When you register a property, the guideline value serves as a benchmark. Buyers and sellers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Meenambal St?

The current guideline value of Meenambal St is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties in Meenambal St?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Meenambal St?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Meenambal St, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded accurately in accordance with government regulations.