Guideline Value for Meeran Sahib Street

Meeran Sahib Street guideline value

The current guideline value of Meeran Sahib Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - I.

How the guideline value of Meeran Sahib Street has changed

The guideline value for Meeran Sahib Street has seen significant changes over the years. The earliest recorded figure is from the 2002 revision, which was Rs 749 per sq.ft. This increased to Rs 826 per sq.ft in the 2003 revision, marking a 10% rise. The value then increased substantially to Rs 1,500 per sq.ft in 2007, reflecting an 82% increase. Following this, the 2012 revision saw the value rise to Rs 3,600 per sq.ft, which was a remarkable 140% increase from the previous revision.

In the subsequent revisions, the guideline value continued to evolve. The 2017 revision recorded a value of Rs 2,412 per sq.ft, a decrease of 33% from the 2012 figure. The value then rose to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which represents an 8% increase from the previous year. There are no figures available for any revisions other than those mentioned for Meeran Sahib Street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Meeran Sahib Street is below this median, indicating a relatively lower valuation compared to other streets in the area.

• Meenambal Sivaraj Street: Rs 3,400 per sq.ft (2024)
• Meenambal Sivaraj Nagar: Rs 3,400 per sq.ft (2024)
• McNicholas Road 4th Lane: Rs 11,000 per sq.ft (2024)
• McNicholas Road 3rd Lane: Rs 11,000 per sq.ft (2024)
• McNicholas Road 2nd Lane: Rs 11,000 per sq.ft (2024)
• McNicholas Road 1st Lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Meeran Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, these fees would total Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meeran Sahib Street?

The Sub Registrar Office that covers Meeran Sahib Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must ensure that the sale price meets or exceeds the guideline value to comply with legal requirements.

Additionally, the guideline value is regularly updated to reflect changes in the real estate market, ensuring that it remains relevant for property transactions. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Meeran Sahib Street?

The current guideline value of Meeran Sahib Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Meeran Sahib Street has changed from Rs 749 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 421% over the years.

What are the stamp duty and registration fees for properties on Meeran Sahib Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty will be Rs 2,73,000 and the registration fee will be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Meeran Sahib Street?

The Periamet Sub Registrar Office handles registrations for Meeran Sahib Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Meeran Sahib Street?

Meeran Sahib Street is classified as Residential Class III Type - I under the Periamet SRO.