Guideline Value for Meri Helan Street

Meri Helan Street guideline value

The current guideline value of Meri Helan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Meri Helan Street has changed

The guideline value for Meri Helan Street has seen several revisions over the years. In 2002, the guideline value was Rs 427 per sq.ft. This increased to Rs 465 per sq.ft in 2003, marking a change of +9%. The value continued to rise significantly, reaching Rs 800 per sq.ft in 2007, which was a remarkable increase of +72%. By 2012, the value had risen to Rs 2,500 per sq.ft, reflecting a substantial jump of +213% from the previous revision.

In 2017, the guideline value decreased to Rs 1,675 per sq.ft, showing a decline of -33%. However, this was followed by an increase to Rs 2,500 per sq.ft in 2023, and then again to the current value of Rs 2,700 per sq.ft in 2024, marking an increase of +8%. Overall, from 2002 to 2024, the guideline value has increased by +532%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, placing Meri Helan Street's 2024 figure below that median.

• Markanda Naicken Street: Rs 2,400 per sq.ft (2024)
• Markandaiyan Street (Jawahar Nagar): Rs 2,400 per sq.ft (2024)
• Manavalan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Manavalan 2nd Cross Street (Vetri Nagar Extension): Rs 2,700 per sq.ft (2024)
• Manavalan 1st Cross Street (Vetri Nagar Extension): Rs 2,700 per sq.ft (2024)
• Manavalam Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Meri Helan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meri Helan Street?

The Sub Registrar Office that covers Meri Helan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Meri Helan Street?

The current guideline value of Meri Helan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 427 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +532%.

What is the land classification for Meri Helan Street?

Meri Helan Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Meri Helan Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 2,43,000.

Which office handles registrations for Meri Helan Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Meri Helan Street.