Guideline Value for METTUKULAM (M.T.H.ROAD)

Mettukulam (M.T.H.Road) guideline value

The current guideline value for Mettukulam (M.T.H.Road) is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is part of Padi village and falls under the Villivakkam SRO with a land classification of Residential Class I Type - III.

How the guideline value of Mettukulam (M.T.H.Road) has changed

Over the years, the guideline value for Mettukulam (M.T.H.Road) has seen several revisions. The 2012 revision set the guideline value at Rs 7,500 per sq.ft, which was then reduced to Rs 5,025 per sq.ft in 2017. Following this, the value increased significantly to Rs 7,500 per sq.ft in 2023, and most recently, it has risen to Rs 8,200 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects an increase of 9%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 9%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, making Mettukulam (M.T.H.Road) above this median.

• M.G.R.Nagar (Near Canal-Slums): Rs 2,200 per sq.ft (2024)
• Mathiazhagan Nagar: Rs 2,500 per sq.ft (2024)
• M.M.M.Hospital Road (Bazaar Road): Rs 9,900 per sq.ft (2024)
• Mogappair Road (Estate Road): Rs 9,900 per sq.ft (2024)
• Mosque Street: Rs 4,900 per sq.ft (2024)
• M.T.H.Road: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mettukulam (M.T.H.Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total to Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Mettukulam (M.T.H.Road)?

The Sub Registrar Office that covers Mettukulam (M.T.H.Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padi. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives a fair amount based on the assessed value of the property.

Additionally, the guideline value helps in maintaining transparency in property transactions, as it provides a standardized measure of value across different areas. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Mettukulam (M.T.H.Road)?

The current guideline value for Mettukulam (M.T.H.Road) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then increased to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,200 per sq.ft in 2024.

What is the land classification for Mettukulam (M.T.H.Road)?

Mettukulam (M.T.H.Road) is classified as Residential Class I Type - III according to the land classification standards.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current stamp duty rate is 7%, while the registration fee is 2% of the guideline value.