Guideline Value for Menaka Estate

Menaka Estate guideline value

The current guideline value of Menaka Estate in Noombal village, under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of Menaka Estate has changed

The guideline value for Menaka Estate has seen several revisions over the years. In 2017, the value was Rs 1,273 per sq.ft. This increased to Rs 1,900 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, 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 Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for the village is Rs 2,090 per sq.ft, which is the same as the current value for Menaka Estate.

• Mettu Street: Rs 2,420 per sq.ft (2024)
• Mazudhi Street: Rs 2,090 per sq.ft (2024)
• Mariyamman Koil Street: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar: Rs 2,860 per sq.ft (2024)
• Moogambigai Nagar 2nd Cross Street: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar Ist Cross Street: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Menaka Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, while the registration fee at 2% would be Rs 41,800. Together, the total cost for stamp duty and registration would be Rs 1,88,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Menaka Estate?

The Sub Registrar Office that covers Menaka Estate 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 Noombal

The guideline value is a crucial factor in property transactions in Noombal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value is regularly updated to reflect changes in the real estate market, helping to maintain transparency in property transactions. Buyers and sellers should always refer to the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Menaka Estate?

The current guideline value of Menaka Estate is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,273 per sq.ft to Rs 2,090 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for Menaka Estate?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,88,100, based on the current guideline value of Rs 20,90,000.

Which Sub Registrar Office covers Menaka Estate?

The Kunrathur Sub Registrar Office covers Menaka Estate, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How does the guideline value affect property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that properties are registered at a standardized value, which is updated regularly to reflect market conditions.