Guideline Value for METTUKUPPAM - Bajanai Koil Street

METTUKUPPAM - Bajanai Koil Street guideline value

The current guideline value of METTUKUPPAM - Bajanai Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO and falls under Residential Class IV Type - I land classification.

How the guideline value of METTUKUPPAM - Bajanai Koil Street has changed

The guideline value for METTUKUPPAM - Bajanai Koil Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft, with the median value being Rs 2,200 per sq.ft. METTUKUPPAM - Bajanai Koil Street's 2024 guideline value is equal to this median.

• METTUKUPPAM - Gangaiamman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• METTUKUPPAM - Gangaiamman Koil Pallikuda Street: Rs 2,200 per sq.ft (2024)
• METTUKUPPAM - Gangaiamman Koil Street: Rs 2,200 per sq.ft (2024)
• METTUKUPPAM - Mandaveli Cross Street: Rs 2,200 per sq.ft (2024)
• METTUKUPPAM - Mandaveli Street: Rs 2,200 per sq.ft (2024)
• METTUKUPPAM - Oothavadai Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in METTUKUPPAM - Bajanai Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers METTUKUPPAM - Bajanai Koil Street?

The Sub Registrar Office that covers METTUKUPPAM - Bajanai Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately in the official register. This value is crucial for both parties as it influences the overall costs associated with the property transfer.

Frequently asked questions

What is the current guideline value of METTUKUPPAM - Bajanai Koil Street?

The current guideline value of METTUKUPPAM - Bajanai Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. It decreased to Rs 1,340 per sq.ft in 2017 from Rs 2,000 per sq.ft in 2012, and then increased again in subsequent years.

What is the land classification for METTUKUPPAM - Bajanai Koil Street?

The land classification for METTUKUPPAM - Bajanai Koil Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for METTUKUPPAM - Bajanai Koil Street?

The Virugambakkam Sub Registrar Office covers METTUKUPPAM - Bajanai Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in METTUKUPPAM - Bajanai Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be calculated at 7% of this amount.