Guideline Value for Melamaiyur Pillaiyar Kovil Street

Melamaiyur Pillaiyar Kovil Street guideline value

The current guideline value of Melamaiyur Pillaiyar Kovil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village and falls under the Chengleput Joint I SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Melamaiyur Pillaiyar Kovil Street has changed

The guideline value for Melamaiyur Pillaiyar Kovil Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 501 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a rise of 399%. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, reflecting a drop of 33%. The value continued to rise in the 2023 revision to Rs 2,500 per sq.ft, before reaching the current figure of Rs 2,750 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

It is important to note that the register has no figures for Melamaiyur Pillaiyar Kovil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 449%.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 3,025 per sq.ft, which means that the 2024 guideline value of Melamaiyur Pillaiyar Kovil Street is below this median.

• Municipal Colony: Rs 2,475 per sq.ft (2024)
• Madurai Veeran Koil Street: Rs 2,420 per sq.ft (2024)
• Old G.S.T.Road 1: Rs 3,025 per sq.ft (2024)
• Old G.S.T.Road 2: Rs 3,025 per sq.ft (2024)
• Old G.S.T.Road 3: Rs 3,025 per sq.ft (2024)
• Ottapalayam (a) Sasthiri Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Melamaiyur Pillaiyar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Melamaiyur Pillaiyar Kovil Street?

The Sub Registrar Office that covers Melamaiyur Pillaiyar Kovil Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Melamaiyur Pillaiyar Kovil Street?

The current guideline value of Melamaiyur Pillaiyar Kovil Street is Rs 2,750 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 2007 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 449% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

Which Sub Registrar Office handles registrations for this street?

The Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, handles registrations for Melamaiyur Pillaiyar Kovil Street.

What is the land classification for Melamaiyur Pillaiyar Kovil Street?

The land classification for Melamaiyur Pillaiyar Kovil Street is Residential Class I Type - I.