Guideline Value for METTUKUPPAM KAMATCHIAMMAN NAGAR 1ST STREET

Mettukuppam Kamatchiamman Nagar 1st Street guideline value

The current guideline value of Mettukuppam Kamatchiamman Nagar 1st Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mettukuppam Kamatchiamman Nagar 1st Street has changed

Over the years, the guideline value for Mettukuppam Kamatchiamman Nagar 1st Street has seen several revisions. The earliest recorded revision was in 2012, with a guideline value of Rs 1,500 per sq.ft. This figure remained unchanged in the subsequent revision in 2017, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, the guideline value increased significantly to Rs 1,500 per sq.ft, and then to Rs 1,660 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and overall, from 2012 to 2024, there has been an increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,660 per sq.ft, which is equal to the current figure for Mettukuppam Kamatchiamman Nagar 1st Street.

• Mettukuppam Kamatchiamman Nagar: Rs 1,660 per sq.ft (2024)
• Mettukuppam Kamatchiamman Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Mettukuppam Mayana Salai: Rs 1,660 per sq.ft (2024)
• Mettukuppam - Anna Street: Rs 1,660 per sq.ft (2024)
• Mettukuppam - Anna 7th Cross Street: Rs 1,660 per sq.ft (2024)
• Mettukuppam - Anna 6th Cross Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Mettukuppam Kamatchiamman Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, resulting in a total of Rs 1,49,400. 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 Kamatchiamman Nagar 1st Street?

The Sub Registrar Office covering Mettukuppam Kamatchiamman Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is documented at a value that reflects the prevailing rates in the area.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mettukuppam Kamatchiamman Nagar 1st Street?

The current guideline value of Mettukuppam Kamatchiamman Nagar 1st Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What is the land classification for Mettukuppam Kamatchiamman Nagar 1st Street?

The land classification for Mettukuppam Kamatchiamman Nagar 1st Street is Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400.

Which office handles the registration for this street?

The Chennai South Joint I Sub Registrar Office handles the registration for Mettukuppam Kamatchiamman Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.