Guideline Value for Kuvari Mettu Street

Kuvari Mettu Street guideline value

The current guideline value of Kuvari Mettu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kuvari Mettu Street has changed

The guideline value for Kuvari Mettu Street has seen several revisions over the years. In 2003, the guideline value was Rs 303 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a significant rise of 98%. The value remained the same at Rs 3,000 per sq.ft in both the 2012 and 2023 revisions, before reaching the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2017 for this street. Overall, from 2003 to 2024, the guideline value has increased by 989%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Kuvari Mettu Street.

• Kuvari Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kuvari Road: Rs 2,100 per sq.ft (2024)
• Kuvari Road Cross Street: Rs 2,100 per sq.ft (2024)
• Kuvari V.O.C. Street: Rs 2,100 per sq.ft (2024)
• Kurunji Nagar: Rs 3,520 per sq.ft (2024)
• Lake View Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kuvari Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the 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 Kuvari Mettu Street?

The Sub Registrar Office that covers Kuvari Mettu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kuvari Mettu Street?

The current guideline value of Kuvari Mettu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 303 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 989% over the years.

What are the other streets in Zaminpallavaram?

Other streets in Zaminpallavaram include Kuvari Kattabomman Street, Kuvari Road, Kuvari Road Cross Street, Kuvari V.O.C. Street, Kurunji Nagar, and Lake View Street, each with their respective guideline values for 2024.

What is the stamp duty for property in Kuvari Mettu Street?

The stamp duty for property in Kuvari Mettu Street is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000.

Where is the Sub Registrar Office for Kuvari Mettu Street located?

The Sub Registrar Office for Kuvari Mettu Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.