Guideline Value for Kalathu Mettu Street

Kalathu Mettu Street guideline value

The current guideline value of Kalathu Mettu Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kalathu Mettu Street has changed

The guideline value for Kalathu Mettu Street has undergone several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft, which was increased to Rs 800 per sq.ft in the 2023 revision, marking a significant increase of 49%. The most recent revision in 2024 raised the value to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are a total of 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the guideline value of Kalathu Mettu Street.

• Kalaignar Street: Rs 880 per sq.ft (2024)
• Kamarajar Street: Rs 880 per sq.ft (2024)
• JK Avenue: Rs 880 per sq.ft (2024)
• Kani Nagar: Rs 880 per sq.ft (2024)
• Kani Nagar Extn: Rs 880 per sq.ft (2024)
• Kannaki Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kalathu Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. 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 Kalathu Mettu Street?

The Sub Registrar Office that covers Kalathu Mettu Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Manimangalam A. It serves as a benchmark for determining the value of properties and is used to calculate the stamp duty and registration fees that buyers must pay during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency and accountability in real estate dealings. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Kalathu Mettu Street?

The current guideline value of Kalathu Mettu Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kalathu Mettu Street has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking a total increase of 64% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where can I find the Sub Registrar Office for Kalathu Mettu Street?

The Padappai Sub Registrar Office covers Kalathu Mettu Street and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Manimangalam A?

The median guideline value for the 112 streets in Manimangalam A is Rs 880 per sq.ft, which is the same as the guideline value for Kalathu Mettu Street.