Guideline Value for Meeran Moideen Street

Meeran Moideen Street guideline value

The current guideline value of Meeran Moideen Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Meeran Moideen Street has changed

The guideline value for Meeran Moideen Street has undergone several revisions since 2002. The 2002 revision set the value at Rs 3,471 per sq.ft, which decreased to Rs 353 per sq.ft in 2003. Following this, the value increased to Rs 400 per sq.ft in 2007, then saw a significant rise to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017, before climbing to Rs 1,200 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, the changes from 2002 to 2024 reflect a decrease of 62%. Notably, the value increased by 49% from 2017 to 2023, while it had decreased by 33% from 2012 to 2017. The value also saw a remarkable increase of 200% from 2007 to 2012, and a smaller increase of 13% from 2003 to 2007. The register has no figure for the years not listed.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Meeran Moideen Street's 2024 figure below that median.

• Mettu Street: Rs 1,650 per sq.ft (2024)
• Mathamman Kovil Street: Rs 1,650 per sq.ft (2024)
• Market Street (G.N.T. Road): Rs 3,300 per sq.ft (2024)
• M.K. Gandhi Street: Rs 1,320 per sq.ft (2024)
• Makkal Murpokku Manram Street: Rs 1,650 per sq.ft (2024)
• Moulana Abdul Kalam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Meeran Moideen Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges together Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meeran Moideen Street?

The Sub Registrar Office covering Meeran Moideen Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Meeran Moideen Street?

The current guideline value of Meeran Moideen Street is Rs 1,320 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 3,471 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall decrease of 62% over this period.

What is the land classification for Meeran Moideen Street?

Meeran Moideen Street is classified as Residential Class III Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,18,800, based on the guideline value of Rs 13,20,000.

Which office handles the registration for Meeran Moideen Street?

The Redhills Sub Registrar Office handles the registration for Meeran Moideen Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.