Guideline Value for Rajamanickam Street / Meenakshi Nagar

Rajamanickam Street / Meenakshi Nagar guideline value

The current guideline value of Rajamanickam Street / Meenakshi Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Rajamanickam Street / Meenakshi Nagar has changed

The guideline value of Rajamanickam Street / Meenakshi Nagar has seen significant changes over the years. In 2002, the value was Rs 161 per sq.ft, which increased to Rs 182 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 260 per sq.ft, reflecting a 43% change. The 2017 revision set the value at Rs 1,072 per sq.ft, a substantial 312% increase from 2007. The latest revision in 2024 saw the guideline value rise to Rs 1,760 per sq.ft, representing a 64% increase from 2017. Notably, there are no figures available for the years 2012 and 2023.

Overall, from 2002 to 2024, the guideline value has increased by 993%, illustrating the significant changes over the years. The revisions have contributed to the current valuation, reflecting the evolving landscape of the area.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Rajamanickam Street / Meenakshi Nagar's 2024 figure of Rs 1,760 per sq.ft is below this median.

• Rajamanickam Street, Indira Nagar: Rs 1,980 per sq.ft (2024)
• Rajamani Street: Rs 1,760 per sq.ft (2024)
• Rajalingam Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Rajalingam Street: Rs 1,760 per sq.ft (2024)
• Rajalakshmi Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Rajaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamanickam Street / Meenakshi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,760 per sq.ft, the guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajamanickam Street / Meenakshi Nagar?

The Sub Registrar Office that covers Rajamanickam Street / Meenakshi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pammal, 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 the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Rajamanickam Street / Meenakshi Nagar?

The current guideline value of Rajamanickam Street / Meenakshi Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 161 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 993% over this period.

Are there any years with no guideline value figures for this street?

Yes, the guideline value register has no figures for the years 2012 and 2023 for Rajamanickam Street / Meenakshi Nagar.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for properties in this area?

The Pammal Sub Registrar Office handles registrations for properties in Rajamanickam Street / Meenakshi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.