Guideline Value for SRI MEENATCHI GARDEN

Sri Meenatchi Garden guideline value

The current guideline value of Sri Meenatchi Garden in Chempakkam village is Rs 200 per sq.ft, effective from the 2024 revision. This property falls under the Thiruporur SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Meenatchi Garden has changed

The guideline value for Sri Meenatchi Garden has seen several revisions over the years. In 2012, the guideline value was set at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintained this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures recorded for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available are from 2012, 2017, 2023, and 2024.

Guideline values in Chempakkam

In Chempakkam, there are five streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Sri Meenatchi Garden's 2024 figure below this median.

• Earth: Rs 1,000 per sq.ft (2024)
• Red Coral Avenue: Rs 1,000 per sq.ft (2024)
• Sangamam: Rs 2,750 per sq.ft (2024)
• Sumangali Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Meenatchi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total charges to Rs 18,000. 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 more detailed calculations.

Which Sub Registrar Office covers Sri Meenatchi Garden?

The Sri Meenatchi Garden area is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chempakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction. The fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Meenatchi Garden?

The current guideline value of Sri Meenatchi Garden is Rs 200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and remains at Rs 200 per sq.ft in 2024.

What are the other streets in Chempakkam?

Other streets in Chempakkam include Earth, Red Coral Avenue, Sangamam, and Sumangali Nagar, with guideline values ranging from Rs 900 to Rs 2,750 per sq.ft in 2024.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.