Guideline Value for METTUKUPPAM - RAJIVGANDHI SALAI

Mettukuppam - Rajivgandhi Salai guideline value

The current guideline value of Mettukuppam - Rajivgandhi Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Mettukuppam - Rajivgandhi Salai has changed

The guideline value for Mettukuppam - Rajivgandhi Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 8,000 per sq.ft in 2023, and further rose to Rs 8,800 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while the drop from 2012 to 2017 was 33%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

Within Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Mettukuppam - Rajivgandhi Salai's guideline value is above this median.

• Mettukuppam - Radhakrishnan Salai: Rs 3,900 per sq.ft (2024)
• Meettu Street: Rs 1,100 per sq.ft (2024)
• M.C.N.Nagar Extn. 9th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 8th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 7th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 6th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mettukuppam - Rajivgandhi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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 - Rajivgandhi Salai?

The Mettukuppam - Rajivgandhi Salai falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures transparency and helps in maintaining a standard for property transactions in the area.

Frequently asked questions

What is the current guideline value of Mettukuppam - Rajivgandhi Salai?

The current guideline value of Mettukuppam - Rajivgandhi Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification for Mettukuppam - Rajivgandhi Salai?

The land classification for Mettukuppam - Rajivgandhi Salai is Commercial Class I Type - I.

Where can I find the registration office for Mettukuppam - Rajivgandhi Salai?

The registration office for Mettukuppam - Rajivgandhi Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Mettukuppam - Rajivgandhi Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at a rate of 7%.