Guideline Value for METRO SQUARE

Metro Square guideline value

The current guideline value of Metro Square in Ottiyampakkam village is Rs 1,900 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Mixed Type - I land.

How the guideline value of Metro Square has changed

The guideline value for Metro Square has undergone several revisions over the years. The 2017 revision set the value at Rs 1,800 per sq.ft, which was then adjusted to Rs 1,750 per sq.ft in the 2023 revision. The most recent 2024 revision increased the value to Rs 1,900 per sq.ft, marking a 9% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 6%. The changes reflect a slight decrease of 3% from 2017 to 2023, followed by the 9% increase in the subsequent revision.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with a median value of Rs 1,950 per sq.ft. The guideline value for Metro Square is below this median.

• Metro Square Extension: Rs 3,250 per sq.ft (2024)
• Metro Garden: Rs 1,950 per sq.ft (2024)
• Mayana Salai: Rs 1,650 per sq.ft (2024)
• M.G.R.Street: Rs 2,200 per sq.ft (2024)
• Mariamman Koil Thrid Cross Street: Rs 1,950 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Square

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. 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 Metro Square?

The Metro Square area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Metro Square?

The current guideline value of Metro Square is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2017 to Rs 1,750 per sq.ft in 2023, and then increased to Rs 1,900 per sq.ft in 2024. Overall, there has been a 6% increase from 2017 to 2024.

What are the other streets in Ottiyampakkam with their guideline values?

Other streets in Ottiyampakkam include Metro Square Extension at Rs 3,250 per sq.ft, Metro Garden at Rs 1,950 per sq.ft, Mayana Salai at Rs 1,650 per sq.ft, M.G.R.Street at Rs 2,200 per sq.ft, Mariamman Koil Thrid Cross Street at Rs 1,950 per sq.ft, and Mariamman Koil Street at Rs 1,950 per sq.ft.

What is the stamp duty for buying property in Metro Square?

The stamp duty for buying property in Metro Square is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000.

Which Sub Registrar Office covers the registration of properties in Metro Square?

The Selaiyur Sub Registrar Office covers the registration of properties in Metro Square. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.