Guideline Value for SRI MEENAL NAGAR

Sri Meenal Nagar guideline value

The current guideline value of Sri Meenal Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Thadaperumbakkam_2 village under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Meenal Nagar has changed

The guideline value for Sri Meenal Nagar has undergone several revisions over the years. In the 2017 revision, the guideline value was set at Rs 134 per sq.ft. This figure saw a significant increase in the 2023 revision, where it rose to Rs 300 per sq.ft, marking a 124% increase from the previous revision. The 2024 revision also maintains this value at Rs 300 per sq.ft, showing no change from the 2023 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 124%.

Guideline values in Thadaperumbakkam_2

In Thadaperumbakkam_2, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 600 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Sri Meenal Nagar aligns with this median at Rs 300 per sq.ft.

• Sri Devi Gayathri Nagar: Rs 300 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 300 per sq.ft (2024)
• Sindur Nagar: Rs 300 per sq.ft (2024)
• Senthamizh Nagar: Rs 400 per sq.ft (2024)
• Samundeeswari Nagar: Rs 300 per sq.ft (2024)
• Velavan Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Meenal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Meenal Nagar?

The Sub Registrar Office that covers Sri Meenal Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thadaperumbakkam_2

The guideline value plays a crucial role during the registration of property transactions in Thadaperumbakkam_2. It is used as a reference point for determining the stamp duty and registration fees that need to be paid when purchasing or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the region.

Frequently asked questions

What is the current guideline value of Sri Meenal Nagar?

The current guideline value of Sri Meenal Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 124%, rising from Rs 134 per sq.ft to Rs 300 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification of Sri Meenal Nagar?

Sri Meenal Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated in Sri Meenal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.