Guideline Value for METTUKUPPAM - Pillaiyar Koil Street

METTUKUPPAM - Pillaiyar Koil Street guideline value

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

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

The guideline value for METTUKUPPAM - Pillaiyar Koil 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, this value saw a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the latest revision in 2024 set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 529%. The changes between revisions are notable, with a 471% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current value for METTUKUPPAM - Pillaiyar Koil Street.

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

For a 1,000 sq.ft plot at the current rate, 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers METTUKUPPAM - Pillaiyar Koil Street?

The Sub Registrar Office that covers METTUKUPPAM - Pillaiyar 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 further assistance.

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

The guideline value plays a crucial role during the registration of properties in Nerkundram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of METTUKUPPAM - Pillaiyar 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 from Rs 350 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 529%. There have been fluctuations, including a decrease between 2012 and 2017.

What is the registration office for METTUKUPPAM - Pillaiyar Koil Street?

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

What are the stamp duty rates for properties in this area?

The stamp duty for properties in METTUKUPPAM - Pillaiyar Koil Street is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find more information about guideline values in Nerkundram?

For more information about guideline values in Nerkundram, you can refer to the guideline value register maintained by the Registration Department. It provides detailed information on various streets and their respective values.