Guideline Value for BUNGALAW METTU STREET

Bungalaw Mettu Street guideline value

The current guideline value of Bungalaw Mettu Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Karanodai village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bungalaw Mettu Street has changed

The guideline value for Bungalaw Mettu Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,100 per sq.ft in 2012, marking an increase of 83%. However, it then decreased to Rs 737 per sq.ft in 2017, a drop of 33%. The value rose significantly to Rs 1,100 per sq.ft in 2023, and further increased to Rs 1,210 per sq.ft in 2024, reflecting a 10% increase.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 102%.

Guideline values in Karanodai

Karanodai village has 38 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,000 per sq.ft. The median value is Rs 1,210 per sq.ft, which is equal to the guideline value of Bungalaw Mettu Street.

• Chelliamman Koil Street: Rs 1,210 per sq.ft (2024)
• Chendur Murugan Nagar: Rs 440 per sq.ft (2024)
• Chengalamman Nagar: Rs 440 per sq.ft (2024)
• Bharathidasan Nagar: Rs 440 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,210 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Bungalaw Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. 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 details.

Which Sub Registrar Office covers Bungalaw Mettu Street?

The Sub Registrar Office that covers Bungalaw Mettu Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Karanodai, as it determines the minimum value at which property transactions are registered. This value helps in calculating the stamp duty and registration fees payable during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is either equal to or higher than the guideline value to comply with registration requirements. This ensures that the transaction is legally recognized and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Bungalaw Mettu Street?

The current guideline value of Bungalaw Mettu Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, marking an overall increase of 102%.

What are the other streets in Karanodai with their guideline values?

Other streets in Karanodai include Chelliamman Koil Street and Dharmaraja Koil Street, both at Rs 1,210 per sq.ft, while Chendur Murugan Nagar, Chengalamman Nagar, Bharathidasan Nagar, and Dr. Ambedkar Street are at Rs 440 per sq.ft.

What is the registration fee for property in Bungalaw Mettu Street?

The registration fee is calculated based on the guideline value, with a rate of 2%. For a property valued at Rs 12,10,000, the registration fee would be Rs 24,200.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.