Guideline Value for Meera Nagar

Meera Nagar guideline value

The current guideline value of Meera Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. Meera Nagar is located in Mangadu -A, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Meera Nagar has changed

The guideline value of Meera Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,273 per sq.ft, which increased to Rs 1,900 per sq.ft in the 2023 revision. The most recent 2024 revision raised the value to Rs 2,090 per sq.ft, marking a 10% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO carrying a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value of Meera Nagar is above this median.

• Melma Nagar: Rs 2,200 per sq.ft (2024)
• Mel Ragunathapuram: Rs 1,980 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,430 per sq.ft (2024)
• Mettu Street IInd Street: Rs 1,980 per sq.ft (2024)
• Mettu Street Ist Street: Rs 1,980 per sq.ft (2024)
• Masilamani Nagar Annexe: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Meera Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,090 per sq.ft, the guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, totaling Rs 1,88,100. 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 more details.

Which Sub Registrar Office covers Meera Nagar?

The Sub Registrar Office covering Meera Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in property transactions in Mangadu -A, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware that the duty is charged on the higher of the guideline value and the sale price.

When buying or selling property, it is essential to refer to the latest guideline value to ensure compliance with local regulations and to accurately calculate the associated costs. This helps in avoiding any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Meera Nagar?

The current guideline value of Meera Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current value of Rs 2,090 per sq.ft as of 2024. The most recent increase was a 10% rise from the 2023 revision.

What is the land classification of Meera Nagar?

Meera Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What other streets in Mangadu -A have guideline values?

Other streets in Mangadu -A have varying guideline values, with rates ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for the area is Rs 1,870 per sq.ft.

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

The Sub Registrar Office for Meera Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all registration activities for the area.