Guideline Value for METTUKUPPAM - Mandaveli Street

METTUKUPPAM - Mandaveli Street guideline value

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

How the guideline value of METTUKUPPAM - Mandaveli Street has changed

The guideline value of METTUKUPPAM - Mandaveli Street has seen significant changes over the years. In the 2007 revision, the value was Rs 350 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 471%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The 2017 revision saw an increase to Rs 2,000 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with a 2024 guideline value range 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 aligns with the current value for METTUKUPPAM - Mandaveli Street.

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

Stamp duty and registration fee for property in METTUKUPPAM - Mandaveli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers METTUKUPPAM - Mandaveli Street?

The Sub Registrar Office that covers METTUKUPPAM - Mandaveli 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 serves as a benchmark for property transactions in Nerkundram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property's assessed value.

At the time of registration, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of METTUKUPPAM - Mandaveli Street?

The current guideline value of METTUKUPPAM - Mandaveli 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, showing an overall increase of 529% over the years.

What is the land classification for METTUKUPPAM - Mandaveli Street?

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

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

The Sub Registrar Office for METTUKUPPAM - Mandaveli Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in METTUKUPPAM - Mandaveli Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.