Guideline Value for Kalathu Mettu 1st Cross Street

Kalathu Mettu 1st Cross Street guideline value

The current guideline value of Kalathu Mettu 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Kalathu Mettu 1st Cross Street has changed

Looking at the historical revisions, the guideline value for Kalathu Mettu 1st Cross Street has seen several changes over the years. The earliest recorded figure is from 2003, at Rs 600 per sq.ft. This value increased significantly to Rs 1,250 per sq.ft in 2007, marking a rise of 108%. However, it then saw a further increase to Rs 2,000 per sq.ft in 2012, which was a 60% increase from the previous revision. In 2017, the guideline value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, a notable increase of 49%. As of the 2024 revision, the current guideline value stands at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 267%.

Guideline values in Kottivakkam

Kottivakkam has a total of 284 streets under the Adayar SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, indicating that the guideline value of Kalathu Mettu 1st Cross Street is below this median.

• Kalathu Mettu 1st Cross Lane: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 6th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalathu Mettu 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 details.

Which Sub Registrar Office covers Kalathu Mettu 1st Cross Street?

The Sub Registrar Office that covers Kalathu Mettu 1st Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value for which a property can be registered. When buying or selling property, the guideline value is typically used to calculate the stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is necessary to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Kalathu Mettu 1st Cross Street?

The current guideline value of Kalathu Mettu 1st Cross Street is Rs 2,200 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 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in Kalathu Mettu 1st Cross Street?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Kalathu Mettu 1st Cross Street?

The Adayar Sub Registrar Office handles property registrations for Kalathu Mettu 1st Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the guideline value determined for properties in Kottivakkam?

The guideline value is determined based on various factors and is updated periodically by the Registration Department. It serves as a reference point for property transactions, ensuring that properties are registered at a fair value.