Guideline Value for Mekmillan 3rd Cross Street

Mekmillan 3rd Cross Street guideline value

The current guideline value of Mekmillan 3rd 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 it falls under the Residential Class I Type - III land classification.

How the guideline value of Mekmillan 3rd Cross Street has changed

The guideline value for Mekmillan 3rd Cross Street has seen several revisions over the years. In 2002, the value was Rs 501 per sq.ft, which increased to Rs 561 per sq.ft in 2003, marking a change of +12%. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2007, reflecting a substantial increase of +132%. The next revision in 2012 saw the value remain at Rs 3,500 per sq.ft, indicating a decrease of -33% from the previous figure. In 2017, the value again rose to Rs 2,345 per sq.ft, showing an increase of +49% from 2012.

The most recent revisions show a notable increase as well. The guideline value was Rs 3,500 per sq.ft in 2023, which has now risen to Rs 3,900 per sq.ft in 2024, representing an increase of +11%. Overall, from 2002 to 2024, the guideline value has increased by +678%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Mekmillan 3rd Cross Street's 2024 guideline value is above this median.

• Mekmillan 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Mekmillan 3rd Street: Rs 3,900 per sq.ft (2024)
• Mekmillan 1st Cross 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 3rd 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 amount to Rs 78,000, making the total cost for these fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mekmillan 3rd Cross Street?

The Sub Registrar Office that covers Mekmillan 3rd 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ullagaram. 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 sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of this value to accurately calculate their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mekmillan 3rd Cross Street?

The current guideline value of Mekmillan 3rd 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, showing an overall increase of +678% over this period.

What is the land classification for Mekmillan 3rd Cross Street?

Mekmillan 3rd Cross Street falls under the Residential Class I Type - III land classification.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for this street located?

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