Guideline Value for C.L.METHA SALAI

C.L.Metha Salai guideline value

The current guideline value of C.L.Metha Salai is Rs 6,700 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village and falls under the Neelankarai SRO. The land classification for this area is Mixed Type - I.

How the guideline value of C.L.Metha Salai has changed

The guideline value of C.L.Metha Salai has seen several revisions over the years. The 2012 revision set the value at Rs 6,100 per sq.ft, which was later revised to Rs 4,087 per sq.ft in 2017. This marked a decrease of 33%. Following this, the 2023 revision increased the value to Rs 6,100 per sq.ft, and the latest 2024 revision further raised it to Rs 6,700 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, since the 2012 revision, the guideline value has increased by 10% from Rs 6,100 per sq.ft to Rs 6,700 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for this area is Rs 3,300 per sq.ft, making C.L.Metha Salai's 2024 figure of Rs 6,700 per sq.ft above the median.

• Creek Street: Rs 3,300 per sq.ft (2024)
• Customs Colony Main Road: Rs 6,600 per sq.ft (2024)
• Chinnappa Naickar Street: Rs 2,800 per sq.ft (2024)
• Devaraj Avenue: Rs 2,800 per sq.ft (2024)
• Devaraj Avenue 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Devaraj Avenue 2nd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in C.L.Metha Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 6,700 per sq.ft, the total guideline value amounts to Rs 67,00,000. The stamp duty at 7% would be Rs 4,69,000, and the registration fee at 2% would be Rs 1,34,000, bringing the total fees together to Rs 6,03,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers C.L.Metha Salai?

The Sub Registrar Office that covers C.L.Metha Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

When buying or selling property in Okkiyamthuraipakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which must be paid based on the higher of the guideline value or the sale price.

Understanding the guideline value helps ensure that buyers and sellers are aware of the costs involved in property transactions. It is essential for compliance with local regulations and for the accurate calculation of associated fees.

Frequently asked questions

What is the current guideline value of C.L.Metha Salai?

The current guideline value of C.L.Metha Salai is Rs 6,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,100 per sq.ft in 2023 to Rs 6,700 per sq.ft in 2024, marking a 10% increase. It was Rs 4,087 per sq.ft in 2017, showing a 49% increase from then to 2023.

What is the land classification for C.L.Metha Salai?

The land classification for C.L.Metha Salai is Mixed Type - I, indicating a diverse usage of land in the area.

Which Sub Registrar Office covers C.L.Metha Salai?

C.L.Metha Salai falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in C.L.Metha Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot of 1,000 sq.ft at the guideline value of Rs 6,700 per sq.ft, the stamp duty would be Rs 4,69,000.