Guideline Value for Meenambal sivaraj Nagar

Meenambal sivaraj Nagar guideline value

The current guideline value of Meenambal Sivaraj Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - II.

How the guideline value of Meenambal sivaraj Nagar has changed

The guideline value for Meenambal Sivaraj Nagar has undergone several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003, marking a 10% rise. The value saw further increases, reaching Rs 1,000 per sq.ft in 2007, reflecting a significant 51% growth. By 2012, the value was Rs 3,100 per sq.ft, indicating a remarkable 210% increase since 2007. However, it decreased to Rs 2,077 per sq.ft in 2017, a drop of 33% from the previous revision.

In 2023, the guideline value was revised to Rs 3,100 per sq.ft, and then it increased by 10% to reach the current value of Rs 3,400 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 466% for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Meenambal Sivaraj Nagar's 2024 figure below this median.

• Meenambal Sivaraj Street: 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 road 1st lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Meenambal sivaraj Nagar

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, and the registration fee at 2% would be Rs 68,000. Together, the total cost for these fees would be Rs 3,06,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Meenambal sivaraj Nagar?

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

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

When buying or selling property in Egmore, the guideline value plays a crucial role during the registration process. It serves as a reference for determining the stamp duty and registration fees, ensuring that the transaction is documented accurately.

The guideline value is used to assess the minimum value at which a property can be registered, and it helps in standardizing the taxation process across different properties in the area. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Meenambal Sivaraj Nagar?

The current guideline value of Meenambal Sivaraj Nagar 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 is the land classification of Meenambal Sivaraj Nagar?

Meenambal Sivaraj Nagar is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Meenambal Sivaraj Nagar?

The Sub Registrar Office for Meenambal Sivaraj Nagar is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Meenambal Sivaraj Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 34,00,000, the stamp duty at 7% would be Rs 2,38,000.