Guideline Value for Meera Nagar i

Meera Nagar i guideline value

The current guideline value of Meera Nagar i is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Meera Nagar i has changed

The guideline value for Meera Nagar i has undergone several revisions over the years. The earliest revision available is from 2012, which was set at Rs 800 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value to Rs 800 per sq.ft, and the most recent revision in 2024 raised it to Rs 880 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram village, there are a total of 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Meera Nagar i below this median.

• Meera Nagar ii: Rs 880 per sq.ft (2024)
• Meera Nagar iii: Rs 880 per sq.ft (2024)
• Meenambal St: Rs 2,200 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Meera Nagar i

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that the 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 more details.

Which Sub Registrar Office covers Meera Nagar i?

The Sub Registrar Office covering Meera Nagar i 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 stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a property is bought or sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions. This is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Meera Nagar i?

The current guideline value of Meera Nagar i is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Meera Nagar i?

Meera Nagar i is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Meera Nagar i?

The Sub Registrar Office for Meera Nagar i is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Meera Nagar i?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 61,600.