Guideline Value for Melaveethi

Melaveethi guideline value

The current guideline value of Melaveethi is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Melaveethi has changed

The guideline value for Melaveethi has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023. Prior to that, the value was Rs 1,500 per sq.ft in 2012. The register has no figures for the years 2002, 2003, 2007, and 2017.

From 2012 to 2023, there was no change in the guideline value, but from 2023 to 2024, there was a 7% increase. Overall, from 2012 to 2024, the guideline value increased by 7%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the guideline value of Melaveethi.

• Mehta Nagar (Ward-16): Rs 1,300 per sq.ft (2024)
• Meri Land Est.: Rs 1,300 per sq.ft (2024)
• Merryland Estates (Ward-02): Rs 1,300 per sq.ft (2024)
• Metha Nagar (A.J.): Rs 1,600 per sq.ft (2024)
• Meenatchi Bharathy Co-Op Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• Meenatchi Bharathi Co-Op Society (Ward-02): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Melaveethi

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Melaveethi?

The Sub Registrar Office that covers Melaveethi is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the officially set guideline value.

Frequently asked questions

What is the current guideline value of Melaveethi?

The current guideline value of Melaveethi is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Melaveethi has increased from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, marking a 7% increase. There was no change from 2012 to 2023, and the overall increase from 2012 to 2024 is 7%.

What is the classification of land in Melaveethi?

Melaveethi is classified as Residential Class II Type - I under the Madhavaram SRO.

What are the other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft.

Where can I find the Sub Registrar Office for Melaveethi?

The Sub Registrar Office for Melaveethi is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by visiting the appropriate links.