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 Potheri village under the Chengleput Joint II SRO and is classified as 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 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and finally, it rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the changes, the value increased by 49% from 2017 to 2023. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Potheri

Potheri village has 129 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline 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 rate of Rs 770 per sq.ft, the 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, totaling Rs 69,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Potheri. It serves as a basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

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 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Malai Mettu Street?

Malai Mettu Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

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.

How is the stamp duty calculated for properties in Malai Mettu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 7,70,000 would incur a stamp duty of Rs 53,900 at 7%.