Guideline Value for Meera Nagar ii

Meera Nagar ii guideline value

The current guideline value of Meera Nagar ii is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Meera Nagar ii has changed

The guideline value for Meera Nagar ii has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 600 per sq.ft. This increased to Rs 800 per sq.ft in 2012, but then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023 and then to the current value of Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the changes are notable. From 2017 to 2023, the value increased by 49%. The 2012 to 2017 revision saw a decrease of 33%. Overall, from 2007 to 2024, there has been an increase of 47%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

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

• Meera Nagar i: 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)
• Meenambal Lane: 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 ii

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meera Nagar ii?

The Sub Registrar Office that covers Meera Nagar ii 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 critical factor when registering property transactions in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Meera Nagar ii?

The current guideline value of Meera Nagar ii 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 600 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the stamp duty for property in Meera Nagar ii?

The stamp duty for property in Meera Nagar ii is 7% of the guideline value or sale price, whichever is higher.

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

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

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the property is registered at an official valuation, which is crucial for legal compliance.