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Guideline Value

Corporate

Guideline Value for SRI MEENKSHI NAGAR PHASE - I

₹720/sq.ft.

The guideline value for Sri Meenkshi Nagar Phase - I in Serapanancheri village (Padappai SRO, Chennai zone) is Rs 720 per sq.ft, effective 1 July 2024. It was Rs 650 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Serapanancheri

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹720 /sq.ft.
From 1-4-2023 ₹650 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹435 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Meenkshi Nagar Phase - I

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Sri Meenkshi Nagar Phase - I guideline value

The current guideline value of Sri Meenkshi Nagar Phase - I is Rs 720 per sq.ft, effective from 1 July 2024. This area is located in Serapanancheri village and falls under the Padappai SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Meenkshi Nagar Phase - I has changed

The guideline value for Sri Meenkshi Nagar Phase - I has seen several revisions over the years. The 2017 revision set the value at Rs 435 per sq.ft. This increased to Rs 650 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 720 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median value for these streets is Rs 720 per sq.ft, which is equal to the guideline value of Sri Meenkshi Nagar Phase - I.

Stamp duty and registration fee for property in Sri Meenkshi Nagar Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, leading to a total of Rs 64,800. 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 Meenkshi Nagar Phase - I?

The Sub Registrar Office that covers Sri Meenkshi Nagar Phase - I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional details.

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

The guideline value is a critical factor during the registration of property transactions in Serapanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. 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 of Sri Meenkshi Nagar Phase - I?

The current guideline value of Sri Meenkshi Nagar Phase - I is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 435 per sq.ft in 2017 to Rs 720 per sq.ft in 2024, marking an overall increase of 66% across these years.

What are the other streets in Serapanancheri with similar guideline values?

Other streets in Serapanancheri with a guideline value of Rs 720 per sq.ft include Sri Meenatchi Nagar Phase - II, Sri Meenakshi Nagar, Sri Kannan Nagar, Sri Sai Nagar, and Sri Balaji Nagar.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Meenkshi Nagar Phase - I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 720 per sq.ft would incur a total guideline value of Rs 7,20,000, with stamp duty and registration fees calculated accordingly.