Guideline Value for Melandai 2nd Cross Street

Melandai 2nd Cross Street guideline value

The current guideline value of Melandai 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

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

The guideline value for Melandai 2nd Cross Street has undergone several revisions over the years. In 2002, the value was Rs 239 per sq.ft, which increased to Rs 294 per sq.ft in 2003, marking a change of +23%. The value then rose significantly to Rs 500 per sq.ft in 2007, a change of +70%. By 2012, the guideline value was Rs 3,000 per sq.ft, reflecting a substantial increase of +500% from the previous revision. However, this value decreased to Rs 2,010 per sq.ft in 2017, showing a decline of -33%. The 2023 revision set the value at Rs 3,000 per sq.ft, which then increased by +10% to the current value of Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by +1281%. The register has no figures for revisions in the years not mentioned above.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Melandai 2nd Cross Street.

• Melandai 1st 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 2nd 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 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 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Melandai 2nd Cross Street?

The Sub Registrar Office that covers Melandai 2nd 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a recognized value for the property.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

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

The current guideline value of Melandai 2nd 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 239 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1281% over the years.

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

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.

Which Sub Registrar Office covers Melandai 2nd Cross Street?

The Tambaram Joint 1 Sub Registrar Office covers Melandai 2nd Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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

Melandai 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.