Guideline Value for Melandai Street

Melandai Street guideline value

The current guideline value of Melandai Street in Tambaram village, under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Melandai Street has changed

The guideline value for Melandai Street has seen significant changes over the years. In 2002, the guideline value was Rs 294 per sq.ft, which increased to Rs 363 per sq.ft in 2003, marking a 23% rise. Following this, the value rose by 38% to reach Rs 500 per sq.ft in 2007. The value then surged dramatically by 500% to Rs 3,000 per sq.ft in 2012, before experiencing a decline of 33% to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 saw an increase of 49%, bringing the value to Rs 3,000 per sq.ft, and the latest revision in 2024 has further increased it by 10% to Rs 3,300 per sq.ft.

There are no figures available for the guideline value of Melandai Street for the years not mentioned in the revisions. The overall increase from 2002 to 2024 is an impressive 1,022%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Melandai Street.

• Melandai 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Melandai 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Meera Nagar iii: Rs 880 per sq.ft (2024)
• Meera Nagar ii: Rs 880 per sq.ft (2024)
• Meera Nagar i: Rs 880 per sq.ft (2024)
• Meenambal St: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Melandai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Melandai Street?

The Sub Registrar Office that covers Melandai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Melandai Street?

The current guideline value of Melandai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 294 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,022% over this period.

What is the registration office for Melandai Street?

The registration office for Melandai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty and registration fees for properties in Melandai Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

What other streets in Tambaram have similar guideline values?

Other streets in Tambaram with a guideline value of Rs 3,300 per sq.ft include Melandai 1st Cross Street and Melandai 2nd Cross Street.