Guideline Value for METTUKUPPAM - Gangaiamman Koil Cross Street

METTUKUPPAM - Gangaiamman Koil Cross Street guideline value

The current guideline value of METTUKUPPAM - Gangaiamman Koil Cross 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 is classified as Residential Class IV Type - I.

How the guideline value of METTUKUPPAM - Gangaiamman Koil Cross Street has changed

The guideline value for METTUKUPPAM - Gangaiamman Koil Cross Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 350 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a rise of 471%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The 2023 revision saw the value rise again to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 529%. Notably, the register has no figures for this street in the years 2002 and 2003.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the current value for METTUKUPPAM - Gangaiamman Koil Cross Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total to Rs 1,98,000. 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 METTUKUPPAM - Gangaiamman Koil Cross Street?

The Sub Registrar Office that covers METTUKUPPAM - Gangaiamman Koil Cross 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 information.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, understanding the guideline value helps ensure that all legal requirements are met during the registration process. It is essential for both buyers and sellers to be aware of these values to facilitate a smooth transaction.

Frequently asked questions

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

The current guideline value of METTUKUPPAM - Gangaiamman Koil Cross 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 significantly from Rs 350 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 529% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for METTUKUPPAM - Gangaiamman Koil Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction complies with legal requirements and helps determine the financial obligations of the buyer and seller.