Guideline Value for METTUKUPPAM - Pillaiyar Koil Cross Street

METTUKUPPAM - Pillaiyar Koil Cross Street guideline value

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

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

The guideline value for METTUKUPPAM - Pillaiyar Koil Cross Street has seen 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, it then decreased to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision.

From 2017 to 2023, the increase was 49%, followed by a 10% rise from 2023 to 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 529%.

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 Cross Street.

• METTUKUPPAM - Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• METTUKUPPAM - Pillaiyar 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 Cross 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers METTUKUPPAM - Pillaiyar Koil Cross Street?

The METTUKUPPAM - Pillaiyar Koil Cross Street is covered by 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 plays a crucial role in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of METTUKUPPAM - Pillaiyar 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 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 are the stamp duty and registration fees for properties 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 METTUKUPPAM - Pillaiyar Koil Cross Street?

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

What is the land classification for METTUKUPPAM - Pillaiyar Koil Cross Street?

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