Guideline Value for Melma Nagar

Melma Nagar guideline value

The current guideline value of Melma Nagar is Rs 1,210 per sq.ft. This area is located in Thandalam village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Melma Nagar has changed

The guideline value for Melma Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 737 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has further increased the guideline value to Rs 1,210 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, which is equal to the current guideline value of Melma Nagar.

• Mariamman Nagar: Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 6): Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 5): Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 2): Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 1): Rs 990 per sq.ft (2024)
• Manimedu (ward 9): Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Melma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, leading to a total cost of Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Melma Nagar?

The Sub Registrar Office covering Melma Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thandalam

The guideline value plays a crucial role in property transactions in Thandalam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

When selling property, the guideline value helps establish a baseline for the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price, ensuring that the transaction reflects the current market conditions.

Frequently asked questions

What is the current guideline value of Melma Nagar?

The current guideline value of Melma Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 737 per sq.ft to Rs 1,210 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for property in Melma Nagar?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700, and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which Sub Registrar Office covers Melma Nagar?

The Pammal Sub Registrar Office covers Melma Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Melma Nagar?

Melma Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.