Guideline Value for Melandai 1st Cross Street

Melandai 1st Cross Street guideline value

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

How the guideline value of Melandai 1st Cross Street has changed

The guideline value for Melandai 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,000 per sq.ft in the 2023 revision, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that have a guideline value for 2024, 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 1st Cross Street.

• Melandai 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Melandai 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 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Melandai 1st Cross Street?

The Sub Registrar Office that covers Melandai 1st Cross 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the stamp duty and registration fees 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 1st Cross Street?

The current guideline value of Melandai 1st Cross 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 changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant fluctuations over the years.

Where can I find the registration office for Melandai 1st Cross Street?

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

What factors influence the stamp duty and registration fees?

The stamp duty and registration fees are influenced by the guideline value of the property or the sale price, whichever is higher. This ensures that the fees reflect the true value of the property being transacted.

Are there other streets in Tambaram with the same guideline value?

Yes, other streets in Tambaram, such as Melandai 2nd Cross Street and Melandai Street, also have a guideline value of Rs 3,300 per sq.ft for 2024, which is equal to the median value for the area.