Guideline Value for Menambedu T.B. Colony

Menambedu T.B. Colony guideline value

The current guideline value of Menambedu T.B. Colony is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village, under the Ambattur Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Menambedu T.B. Colony has changed

The guideline value for Menambedu T.B. Colony has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. However, the value increased to Rs 1,200 per sq.ft in 2012, followed by a rise to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, reflecting a significant change over this period. The overall change from the 2012 revision to the current 2024 value shows an increase of 8%. There are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value among these streets is Rs 1,003 per sq.ft, placing the guideline value of Menambedu T.B. Colony above this median.

• Meenakshi School Road (Gnana Moorthy Nagar): Rs 1,700 per sq.ft (2024)
• Meenakshi Koil Street: Rs 1,001 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Munusamy Koil Street: Rs 1,002 per sq.ft (2024)
• Maga Ganapathy Street: Rs 1,001 per sq.ft (2024)
• Madhavi Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Menambedu T.B. Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Menambedu T.B. Colony?

The Sub Registrar Office that covers Menambedu T.B. Colony is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Menambedu T.B. Colony. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Menambedu T.B. Colony?

The current guideline value of Menambedu T.B. Colony is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. It was Rs 804 per sq.ft in 2017, which increased to Rs 1,200 per sq.ft in 2023, marking a 49% rise over that period.

What is the land classification for Menambedu T.B. Colony?

The land classification for Menambedu T.B. Colony is Residential Class II Type - I, indicating its designation for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at a guideline value of Rs 1,300 per sq.ft would incur a stamp duty of Rs 91,000 and a registration fee of Rs 26,000.