Guideline Value for MeenambalLane

MeenambalLane guideline value

The current guideline value of MeenambalLane 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, classified as Residential Class I Type - II.

How the guideline value of MeenambalLane has changed

The guideline value for MeenambalLane has seen several revisions over the years. Starting from the year 2002, the guideline value was Rs 323 per sq.ft. It increased to Rs 398 per sq.ft in 2003, marking a 23% rise. By 2007, the value jumped significantly to Rs 500 per sq.ft, which was a 26% increase from the previous revision. In 2012, the value rose to Rs 2,000 per sq.ft, reflecting a remarkable 300% increase from 2007. However, it then decreased by 33% to Rs 1,340 per sq.ft in 2017.

In 2023, the guideline value was revised to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 581%.

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 the median being Rs 3,300 per sq.ft. MeenambalLane's 2024 figure is below this median.

• Meenambal Cross Street: Rs 2,200 per sq.ft (2024)
• Meenambal Nagar: Rs 2,200 per sq.ft (2024)
• Meenambal St: 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 MeenambalLane

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers MeenambalLane?

The Sub Registrar Office that covers MeenambalLane 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 plays a crucial role in the registration process of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of MeenambalLane?

The current guideline value of MeenambalLane 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 323 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 581%.

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

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 registrations for MeenambalLane?

The Tambaram Joint 1 Sub Registrar Office handles registrations for MeenambalLane, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is the guideline value determined in Tambaram?

The guideline value in Tambaram is determined by the Registration Department's guideline value register, which is updated periodically to reflect changes in property values across various streets.