Guideline Value for Mekmillan 2nd Cross Street

Mekmillan 2nd Cross Street guideline value

The current guideline value of Mekmillan 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Mekmillan 2nd Cross Street has changed

The guideline value for Mekmillan 2nd Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 501 per sq.ft. It increased to Rs 561 per sq.ft in 2003, marking a 12% rise. The value continued to rise significantly, reaching Rs 1,300 per sq.ft in 2007, which was a 132% increase from the previous revision. In 2012, the value was Rs 3,500 per sq.ft, reflecting a substantial 169% increase from 2007. However, it dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, marking a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year. There are no figures available for any other years for Mekmillan 2nd Cross Street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Mekmillan 2nd Cross Street above that median.

• Mekmillan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Mekmillan 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Mekmillan 3rd Street: Rs 3,900 per sq.ft (2024)
• Mekmillan Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Mekmillan Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Mekmillan Colony 4th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mekmillan 2nd Cross 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 be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mekmillan 2nd Cross Street?

The Sub Registrar Office that covers Mekmillan 2nd Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Ullagaram, the guideline value is a crucial factor used during the registration process. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

Buyers and sellers must be aware that the guideline value is set by the Registration Department and can vary from street to street. It is essential to check the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Mekmillan 2nd Cross Street?

The current guideline value of Mekmillan 2nd Cross 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 has changed from Rs 501 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 678% over the years.

What is the land classification for Mekmillan 2nd Cross Street?

Mekmillan 2nd Cross Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,51,000, based on the guideline value of Rs 39,00,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.