Guideline Value for Sri Meenakshi Nagar

Sri Meenakshi Nagar guideline value

The current guideline value for Sri Meenakshi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This village is located in Pillaippakkam-A under the Sriperumpudur SRO, and it is classified as Residential Class III Type - I.

How the guideline value of Sri Meenakshi Nagar has changed

The guideline value for Sri Meenakshi Nagar has remained constant at Rs 200 per sq.ft from the 2023 revision to the 2024 revision. The previous revision in 2017 recorded a guideline value of Rs 134 per sq.ft, marking a significant increase of 49% to the 2023 figure.

Overall, from 2017 to 2024, the guideline value has increased by 49%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,254 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Sri Meenakshi Nagar's 2024 figure below that median.

• Sri Parasuram Nagar: Rs 700 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 400 per sq.ft (2024)
• Sri Ramanujar Nagar: Rs 300 per sq.ft (2024)
• Sri Ramanujar Town: Rs 300 per sq.ft (2024)
• Sri Hari Krishna Nagar: Rs 400 per sq.ft (2024)
• Sri Bala Rathna Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Meenakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, totaling Rs 14,000, while the registration fee is 2%, amounting to Rs 4,000. Together, the total cost for stamp duty and registration fee is Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Meenakshi Nagar?

The Sub Registrar Office that covers Sri Meenakshi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, 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 Pillaippakkam-A

The guideline value is a crucial factor in the registration process when buying or selling property in Pillaippakkam-A. 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 compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for Sri Meenakshi Nagar?

The current guideline value for Sri Meenakshi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 49%, from Rs 134 per sq.ft to Rs 200 per sq.ft in 2024.

What is the land classification for Sri Meenakshi Nagar?

Sri Meenakshi Nagar is classified as Residential Class III Type - I.

What is the median guideline value for streets in Pillaippakkam-A?

The median guideline value for streets in Pillaippakkam-A is Rs 300 per sq.ft, which is above the current guideline value for Sri Meenakshi Nagar.

Where can I find the Sub Registrar Office for Sri Meenakshi Nagar?

The Sub Registrar Office for Sri Meenakshi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can also find your SRO online.