Guideline Value for METTU COLONY LINK ROAD

Mettu Colony Link Road guideline value

The current guideline value of Mettu Colony Link Road is Rs 1,980 per sq.ft, effective from 1 July 2024. This road is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Mettu Colony Link Road has changed

Over the years, the guideline value of Mettu Colony Link Road has seen several revisions. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,800 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 1,206 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 1,800 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Thus, the earliest recorded value is from the 2012 revision. The changes in guideline values highlight the adjustments made over the years, responding to various factors affecting property values.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Mettu Colony Link Road's value below that median.

• Mettu Colony Anna Street: Rs 3,300 per sq.ft (2024)
• Mettu Colony: Rs 1,980 per sq.ft (2024)
• Meganthi Brothers Main Salai: Rs 1,650 per sq.ft (2024)
• Meganthi Brothers Left Cross Street: Rs 1,650 per sq.ft (2024)
• M.G.R. Nagar: Rs 2,200 per sq.ft (2024)
• M.G.R. Nagar Chembar Road To M.G.R. Nagar Link Road: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Colony Link Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that 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 Mettu Colony Link Road?

The Sub Registrar Office that covers Mettu Colony Link Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Manapakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. This value is used as a basis for calculating the costs associated with the registration of the property, ensuring that the transaction is officially recorded and recognized by the authorities.

The guideline value must be adhered to during the registration process, as it reflects the government's assessment of property values in the area. Buyers and sellers should be aware of these values to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mettu Colony Link Road?

The current guideline value of Mettu Colony Link Road is Rs 1,980 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 2023 to Rs 1,980 per sq.ft in 2024, marking a 10% increase. It was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012, showing a significant increase and decrease in the intervening years.

What is the land classification for Mettu Colony Link Road?

The land classification for Mettu Colony Link Road is Residential Class IV Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Mettu Colony Link Road?

The Sub Registrar Office for Mettu Colony Link Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Mettu Colony Link Road?

Stamp duty for properties in Mettu Colony Link Road is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the same value.