Guideline Value for METTUKUPPAM - Perumal Koil Street

METTUKUPPAM - Perumal Koil Street guideline value

The current guideline value for METTUKUPPAM - Perumal 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 it falls under the Residential Class IV Type - I land classification.

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

The guideline value for METTUKUPPAM - Perumal Koil Street has seen significant changes over the years. In 2007, 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, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 529%. The register does not provide 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 have a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value for METTUKUPPAM - Perumal Koil Street.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. Please 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 - Perumal Koil Street?

The Sub Registrar Office that covers METTUKUPPAM - Perumal 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 crucial during property registration as it determines the minimum value at which properties can be registered. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

Additionally, the guideline value serves as a reference for buyers and sellers to understand the prevailing property values in the area. It is important to be aware of these values to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value for METTUKUPPAM - Perumal Koil Street?

The current guideline value for METTUKUPPAM - Perumal 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 significantly, starting from Rs 350 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the land classification for this street?

METTUKUPPAM - Perumal Koil Street is classified under Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.