Guideline Value for Chinna mettu palayam street

Chinna mettu palayam street guideline value

The current guideline value of Chinna mettu palayam street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Satthankadu village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Chinna mettu palayam street has changed

The guideline value for Chinna mettu palayam street has seen several revisions over the years. In 2002, the value was Rs 413 per sq.ft, which increased to Rs 488 per sq.ft in 2003, marking an 18% rise. The value further rose to Rs 800 per sq.ft in 2007, reflecting a significant increase of 64%. Following this, there was a substantial jump to Rs 3,100 per sq.ft in 2012, resulting in an increase of 288%. However, the value dropped to Rs 2,077 per sq.ft in 2017, which was a decrease of 33%. The value then rose again to Rs 3,100 per sq.ft in 2023, before reaching the current rate of Rs 3,400 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 723%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the current guideline value of Chinna mettu palayam street.

• Chinna Mettu Palayam (Corner Plots): Rs 3,800 per sq.ft (2024)
• Chetty Street: Rs 3,400 per sq.ft (2024)
• Chairman Varadharajapuram: Rs 3,400 per sq.ft (2024)
• Colony Street: Rs 3,400 per sq.ft (2024)
• Damodaran Street: Rs 3,400 per sq.ft (2024)
• Basin Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna mettu palayam street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total cost for these fees Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinna mettu palayam street?

The Sub Registrar Office that covers Chinna mettu palayam street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Satthankadu. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the market.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chinna mettu palayam street?

The current guideline value of Chinna mettu palayam street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 413 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 723% over the years.

What is the land classification for Chinna mettu palayam street?

Chinna mettu palayam street is classified as Residential Special Type - III, indicating its intended use for residential purposes.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Chinna mettu palayam street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, covering Chinna mettu palayam street.