Guideline Value for Mevaloorkuppam Nedunsalai

Mevaloorkuppam Nedunsalai guideline value

The current guideline value of Mevaloorkuppam Nedunsalai is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Mevaloorkuppam village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Mevaloorkuppam Nedunsalai has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 400 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from the 2017 figure.

Notably, there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 400 per sq.ft.

Guideline values in Mevaloorkuppam

Mevaloorkuppam village has 69 streets under the Sriperumpudur SRO, with a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the current guideline value for Mevaloorkuppam Nedunsalai.

• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)
• Mettu Street: Rs 200 per sq.ft (2024)
• Mekkar Street: Rs 300 per sq.ft (2024)
• Moorthiyar Nagar: Rs 200 per sq.ft (2024)
• Manthoppu Street: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mevaloorkuppam Nedunsalai

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total fees Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mevaloorkuppam Nedunsalai?

The Sub Registrar Office that covers Mevaloorkuppam Nedunsalai is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Mevaloorkuppam Nedunsalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and compliance with local regulations.

When purchasing or selling property, the guideline value influences the stamp duty and registration fees applicable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mevaloorkuppam Nedunsalai?

The current guideline value of Mevaloorkuppam Nedunsalai is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 400 per sq.ft, unchanged from 2023. There was a significant increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What are the other streets in Mevaloorkuppam and their guideline values?

Other streets in Mevaloorkuppam include Mevaloorkuppam Road(Nayapakkam Road) at Rs 600 per sq.ft, Mettu Street at Rs 200 per sq.ft, Mekkar Street at Rs 300 per sq.ft, Moorthiyar Nagar at Rs 200 per sq.ft, Manthoppu Street at Rs 200 per sq.ft, and Nadu Street at Rs 200 per sq.ft, all as of 2024.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Mevaloorkuppam is 7% of the guideline value or the sale price, whichever is higher. This is applicable during the registration of the property.

Where can I find the Sub Registrar Office for Mevaloorkuppam Nedunsalai?

The Sub Registrar Office for Mevaloorkuppam Nedunsalai is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registration processes for properties in the area.