Guideline Value for Mevaloorkuppam Nedunsalai

Mevaloorkuppam Nedunsalai guideline value

The current guideline value for Mevaloorkuppam Nedunsalai is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Mevaloorkuppam B village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mevaloorkuppam Nedunsalai has changed

In the 2017 revision, the guideline value was set at Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 400 per sq.ft. The current 2024 revision has maintained the same value of Rs 400 per sq.ft, indicating no percentage change from 2023 to 2024. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has remained at an increase of 49%. The steady valuation in the recent revisions reflects stability in the guideline value for Mevaloorkuppam Nedunsalai.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B village, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 6,200 per sq.ft. The median value across these streets is Rs 400 per sq.ft, which aligns with the current guideline value for Mevaloorkuppam Nedunsalai.

• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)
• Mettu Street: Rs 100 per sq.ft (2024)
• Mekkar Street: Rs 300 per sq.ft (2024)
• Mayana Salai: Rs 100 per sq.ft (2024)
• Moorthiyar Nagar: Rs 100 per sq.ft (2024)
• Manthoppu Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Mevaloorkuppam Nedunsalai

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making a total of Rs 36,000. It is important to note that the 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 accurate calculations.

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 B

The guideline value is a crucial factor during the registration of property transactions in Mevaloorkuppam B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the established value of the property.

When buying or selling property, the guideline value must be considered as it affects the overall transaction costs. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Mevaloorkuppam Nedunsalai?

The current guideline value for 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 an increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024, with no change noted from 2023 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles the registration in Mevaloorkuppam Nedunsalai?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu zone, handles registrations for Mevaloorkuppam Nedunsalai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that these costs reflect the established value of the property.