Guideline Value for Sri Meenakshi Nagar

Sri Meenakshi Nagar guideline value

The current guideline value of Sri Meenakshi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Meenakshi Nagar has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 1,500 per sq.ft. The most recent revision in 2024 saw a further increase to Rs 1,600 per sq.ft, representing a 7% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sri Meenakshi Nagar. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value is Rs 1,900 per sq.ft, and Sri Meenakshi Nagar's 2024 figure is below this median.

• Sri Maha Devi Nagar: Rs 1,600 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,900 per sq.ft (2024)
• Sri Lakshmi amman Nagar: Rs 1,900 per sq.ft (2024)
• Sri Kumaran Nagar Extn.: Rs 1,900 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,600 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,900 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 rate, the guideline value is Rs 16,00,000. The stamp duty at 7% amounts to Rs 1,12,000, and the registration fee at 2% is Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Puthagaram. It determines the amount of stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the buyer must consider the guideline value to ensure compliance with legal requirements. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the correct fees are paid to the government.

Frequently asked questions

What is the current guideline value of Sri Meenakshi Nagar?

The current guideline value of Sri Meenakshi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Sri Meenakshi Nagar?

Sri Meenakshi Nagar is classified as Residential Class II Type - I. This classification is important for determining the guideline value and other regulatory aspects of property transactions.

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

The Sub Registrar Office for Sri Meenakshi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Sri Meenakshi Nagar?

Stamp duty for properties in Sri Meenakshi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.