Guideline Value for MALAI METTU STREET (WARD -1)

Malai Mettu Street (Ward -1) guideline value

The current guideline value of Malai Mettu Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Malai Mettu Street (Ward -1) has changed

The guideline value for Malai Mettu Street has undergone several revisions over the years. The earliest available figure is from 2012, set at Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017, before rising again to Rs 700 per sq.ft in 2023. The latest revision in 2024 has increased the value to Rs 770 per sq.ft, marking a 10% rise from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are a total of 131 streets under the Chengleput Joint II SRO that have a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is equal to the current value of Malai Mettu Street.

• Malaiadivaaram (Ward -1): Rs 770 per sq.ft (2024)
• Malaipuram Extention (Ward -1): Rs 770 per sq.ft (2024)
• Malar Avenue (Ward -1): Rs 880 per sq.ft (2024)
• Maragatham Nagar Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Lancor Uds: Rs 1,980 per sq.ft (2024)
• Kumaran 2st Street (Ward-20): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Malai Mettu Street (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total of Rs 69,300. It is important to 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 Malai Mettu Street (Ward -1)?

The Sub Registrar Office that covers Malai Mettu Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Konathi. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps ensure that all parties involved in a transaction are aware of the financial obligations that come with property transfer. It is advisable to check the latest guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Malai Mettu Street (Ward -1)?

The current guideline value of Malai Mettu Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 in 2012 to Rs 469 in 2017, then to Rs 700 in 2023, and finally to Rs 770 in 2024. This represents a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification for Malai Mettu Street?

Malai Mettu Street is classified as Residential Class I Type - III. This classification is important for understanding the types of developments allowed in the area.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Konathi?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be calculated at 7% of this amount.