Guideline Value for METTUKUPPAM - Mandaveli Cross Street

METTUKUPPAM - Mandaveli Cross Street guideline value

The current guideline value of METTUKUPPAM - Mandaveli Cross Street is Rs 2,200 per sq.ft as per the 2024 revision, 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 Cross Street has changed

The guideline value for METTUKUPPAM - Mandaveli Cross Street has undergone several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017, followed by a substantial increase to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 529%. The register does not contain figures for the years 2002 and 2003 for this street.

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. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for METTUKUPPAM - Mandaveli Cross Street.

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

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

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers METTUKUPPAM - Mandaveli Cross Street?

The Sub Registrar Office that covers METTUKUPPAM - Mandaveli 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 in property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. When you buy or sell a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with legal requirements.

Additionally, the guideline value helps in establishing a fair price for properties within the area, aiding both buyers and sellers in making informed decisions. It is essential to consider the guideline value when planning any property transaction in Nerkundram.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 350 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 529%.

What is the land classification for METTUKUPPAM - Mandaveli Cross Street?

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

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

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

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

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