Guideline Value for Kalathu Mettu 2nd Cross Street

Kalathu Mettu 2nd Cross Street guideline value

The current guideline value of Kalathu Mettu 2nd 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 2nd Cross Street has changed

The guideline value for Kalathu Mettu 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 320 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking an increase of 88%. Following this, the value rose significantly to Rs 1,250 per sq.ft in 2007, an increase of 108%. The 2012 revision saw a decrease to Rs 2,000 per sq.ft, a drop of 60%. In 2017, the value increased to Rs 1,340 per sq.ft, which was a 49% increase from the previous revision. The guideline value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 588%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values 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, placing Kalathu Mettu 2nd Cross Street's current value below that median.

• Kalathu Mettu 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 1st Cross Lane: 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 2nd 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kalathu Mettu 2nd Cross Street?

The Sub Registrar Office that covers Kalathu Mettu 2nd Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value of property transactions, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded at a value that reflects the current market conditions as per the established guidelines.

Frequently asked questions

What is the current guideline value of Kalathu Mettu 2nd Cross Street?

The current guideline value of Kalathu Mettu 2nd 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 320 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 588% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the other streets in Kottivakkam with the same guideline value?

Other streets in Kottivakkam that share the same guideline value of Rs 2,200 per sq.ft (2024) include Kalathu Mettu 1st Cross Street, Kalathu Mettu 3rd Cross Street, Kalathu Mettu 1st Cross Lane, Kalathu Mettu 4th Cross Street, Kalathu Mettu 5th Cross Street, and Kalathu Mettu 6th Cross Street.