Guideline Value for Sembadava (Or)Meenavar Street

Sembadava (Or)Meenavar Street guideline value

The current guideline value of Sembadava (Or)Meenavar Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Sembadava (Or)Meenavar Street has changed

Over the years, the guideline value of Sembadava (Or)Meenavar Street has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 1,400 per sq.ft, and the most recent 2024 revision increased it further to Rs 1,550 per sq.ft. The changes between these revisions include a significant increase of 49% from 2017 to 2023, followed by an 11% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Thirunageswaram

Thirunageswaram village has a total of 105 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,550 per sq.ft, which matches the current value of Sembadava (Or)Meenavar Street.

• Sembarambakkam Erikarai Street: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thiruneelakandar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thirumoolar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thilagavathiar Street: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Siruthondar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Manickavasagar Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Sembadava (Or)Meenavar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sembadava (Or)Meenavar Street?

The Sembadava (Or)Meenavar Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

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

When buyers and sellers engage in property transactions, the guideline value helps in establishing a fair price for taxation purposes. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sembadava (Or)Meenavar Street?

The current guideline value of Sembadava (Or)Meenavar Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,550 per sq.ft in 2024, marking an 11% increase. It was Rs 938 per sq.ft in 2017, which represented a 49% increase to the 2023 figure.

What is the land classification for Sembadava (Or)Meenavar Street?

Sembadava (Or)Meenavar Street is classified as Residential Special Type - II under the Kunrathur SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,39,500.

Which office handles the registration for Sembadava (Or)Meenavar Street?

The Kunrathur Sub Registrar Office handles the registration for Sembadava (Or)Meenavar Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.