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 Thailavaram village under the Chengleput Joint II SRO, 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 seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then dropped to Rs 469 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and further rose to Rs 770 per sq.ft in the 2024 revision, marking a change of +10% from 2023 to 2024 and a notable +49% from 2017 to 2023. The register has no figures for the revisions in 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. The changes indicate a fluctuating trend in the guideline values over the years, reflecting various economic factors affecting the real estate market.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value of Malai Mettu Street (Ward -1).

• Malaiadivaaram (Ward -1): Rs 770 per sq.ft (2024)
• Malaipuram Extention (Ward -1): Rs 770 per sq.ft (2024)
• Malar Avenue (Ward -1): Rs 881 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 881 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 would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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 Thailavaram

The guideline value is a crucial factor when registering property transactions in Thailavaram. It is used to determine the stamp duty and registration fees applicable to the property, ensuring that both parties comply with legal requirements during the sale or purchase process.

When buyers and sellers agree on a sale price, the higher of the sale price and the guideline value will be used to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

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 for Malai Mettu Street (Ward -1)?

Malai Mettu Street (Ward -1) is classified as Residential Class I Type - III.

What are the other streets in Thailavaram with similar guideline values?

Other streets in Thailavaram with the same guideline value of Rs 770 per sq.ft include Malaiadivaaram, Malaipuram Extention, and Maragatham Nagar Vallancheri.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.