Guideline Value for Sri Meenatchi Nagar

Sri Meenatchi Nagar guideline value

The current guideline value of Sri Meenatchi Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This village falls under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Meenatchi Nagar has changed

The guideline value for Sri Meenatchi Nagar has seen significant changes over the years. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, an increase from Rs 1,700 per sq.ft in 2023, marking a rise of 10%. Prior to that, in 2017, the value was Rs 1,139 per sq.ft, which means there was a substantial increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the guideline value register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, which is equal to the current guideline value for Sri Meenatchi Nagar.

• Sri Murugan Nagar: Rs 1,540 per sq.ft (2024)
• Sri MuthuSwamy Avenue: Rs 1,540 per sq.ft (2024)
• Srinivasa Colony Nagar: Rs 1,540 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,540 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Meenatchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, while the registration fee at 2% would be Rs 37,400, bringing the total charges to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Meenatchi Nagar?

Sri Meenatchi Nagar is covered by 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 Mangadu -A

The guideline value is a crucial factor in the property registration process in Mangadu -A. When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. This value is used to assess the financial obligations that arise during the registration of a property.

Frequently asked questions

What is the current guideline value of Sri Meenatchi Nagar?

The current guideline value of Sri Meenatchi Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification of Sri Meenatchi Nagar?

Sri Meenatchi Nagar is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Sri Meenatchi Nagar?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 18,70,000, the total charges would be Rs 1,68,300.

Which office handles property registrations for Sri Meenatchi Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Meenatchi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.