Guideline Value for Meiyammai Street

Meiyammai Street guideline value

The current guideline value of Meiyammai Street is Rs 4,290 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Mixed Special Type - II.

How the guideline value of Meiyammai Street has changed

The guideline value for Meiyammai Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 343 per sq.ft. This increased to Rs 380 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 750 per sq.ft in 2007, which was a substantial increase of 97%. In 2012, the value reached Rs 3,900 per sq.ft, reflecting a remarkable rise of 420%. However, from 2012 to 2017, the value decreased to Rs 2,613 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 3,900 per sq.ft, and the most recent 2024 revision has increased it to Rs 4,290 per sq.ft, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1151%. There are no figures available for the revisions in years not mentioned in the provided data.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, placing Meiyammai Street's value above this median.

• Melpallikuppam Elumalai Street: Rs 3,520 per sq.ft (2024)
• Melpallikuppam Main Road: Rs 3,520 per sq.ft (2024)
• Melpallikuppam Pillaiyar Koil Cross Street: Rs 3,520 per sq.ft (2024)
• Melpallikuppam pillaiyar Koil Street: Rs 3,520 per sq.ft (2024)
• Melpallikuppam - Ramakrishna nagar Link Road: Rs 3,520 per sq.ft (2024)
• Meenakshi Nagar 4th Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Meiyammai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,290 per sq.ft, the total guideline value would be Rs 42,90,000. The stamp duty at 7% would amount to Rs 3,00,300, and the registration fee at 2% would be Rs 85,800. Together, the total cost for stamp duty and registration fee would be Rs 3,86,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meiyammai Street?

The Sub Registrar Office covering Meiyammai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Meiyammai Street?

The current guideline value of Meiyammai Street is Rs 4,290 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 343 per sq.ft in 2002 to Rs 4,290 per sq.ft in 2024, which is an overall increase of 1151%.

What is the registration fee for property on Meiyammai Street?

The registration fee for property on Meiyammai Street is calculated at 2% of the guideline value. For a plot valued at Rs 42,90,000, the registration fee would be Rs 85,800.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. For a property valued at Rs 42,90,000, the stamp duty would amount to Rs 3,00,300.