Guideline Value for SRI MEENAKSHI GARDEN

Sri Meenakshi Garden guideline value

The current guideline value of Sri Meenakshi Garden, located in Mathuranthagam village under the Madurandakam SRO, is Rs 1,110 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Meenakshi Garden has changed

Over the years, the guideline value of Sri Meenakshi Garden has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,110 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Sri Meenakshi Garden's 2024 figure is above this median.

• Sri Kamalavalli Nagar Phase-II: Rs 555 per sq.ft (2024)
• Sri Ragavendra Nagar Phase - I: Rs 440 per sq.ft (2024)
• Sri Kamalavalli Nagar: Rs 550 per sq.ft (2024)
• Sri Raghavendra Nagar Phase-III: Rs 1,110 per sq.ft (2024)
• Sri Ranga Nagar: Rs 555 per sq.ft (2024)
• Sri Eri Ram Sai Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Meenakshi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, making the total charges Rs 99,900. 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 more information.

Which Sub Registrar Office covers Sri Meenakshi Garden?

The Madurandakam Sub Registrar Office covers Sri Meenakshi Garden. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Mathuranthagam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. This value is essential for calculating the applicable stamp duty, which is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sri Meenakshi Garden?

The current guideline value of Sri Meenakshi Garden is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,110 per sq.ft in 2024.

What is the land classification of Sri Meenakshi Garden?

Sri Meenakshi Garden is classified as Residential Special Type - I.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Meenakshi Garden?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.