Guideline Value for Melma Nagar

Melma Nagar guideline value

The current guideline value of Melma Nagar, located in Mangadu -A village under the Kunrathur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

How the guideline value of Melma Nagar has changed

The guideline value for Melma Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Mangadu -A

In Mangadu -A, there are a total of 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Melma Nagar's 2024 figure above the median.

• Mel Ragunathapuram: Rs 1,980 per sq.ft (2024)
• Meera Nagar: Rs 2,090 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,430 per sq.ft (2024)
• Mettu Street IInd Street: Rs 1,980 per sq.ft (2024)
• Mettu Street Ist Street: Rs 1,980 per sq.ft (2024)
• Masilamani Nagar Annexe: Rs 1,480 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Melma Nagar?

The Sub Registrar Office that covers Melma Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is an essential factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating these fees. Therefore, understanding the guideline value is crucial for both buyers and sellers to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Melma Nagar?

The current guideline value of Melma Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall rise of 64%.

What is the land classification for Melma Nagar?

Melma Nagar falls under the Residential Special Type - I land classification, which is significant for property development and usage regulations.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Melma Nagar located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers Melma Nagar for registration purposes.