Guideline Value for Mehta Nagar Extension

Mehta Nagar Extension guideline value

The current guideline value of Mehta Nagar Extension, located in Kunrathour-B village under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Mehta Nagar Extension has changed

The guideline value for Mehta Nagar Extension has undergone several revisions over the years. The 2017 revision recorded a value of Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the guideline value at Rs 1,540 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Kunrathour-B

In Kunrathour-B village, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is equal to the current guideline value for Mehta Nagar Extension.

• Mehta Nagar: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 10th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 11th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 12th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 13th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 14th Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Mehta Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the 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 Mehta Nagar Extension?

The Sub Registrar Office that covers Mehta Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring transparency in property transactions.

When a property is registered, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Mehta Nagar Extension?

The current guideline value of Mehta Nagar Extension is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 938 per sq.ft in 2017 to Rs 1,540 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the land classification of Mehta Nagar Extension?

Mehta Nagar Extension is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Mehta Nagar Extension?

The registration office for Mehta Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 and the registration fee would be Rs 30,800.