Guideline Value for Mehta Nagar

Mehta Nagar guideline value

The current guideline value of Mehta Nagar, 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 has changed

The guideline value for Mehta Nagar has seen significant changes 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, marking a 49% increase. The current 2024 revision shows a further increase to Rs 1,540 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Kunrathour-B

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

• Mehta Nagar Extension: 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

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, totaling Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mehta Nagar?

The Sub Registrar Office that covers Mehta Nagar 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 plays a crucial role in property transactions in Kunrathour-B. It is used to determine the stamp duty and registration fees that buyers need to pay during the registration of property. This ensures that the transaction is recorded accurately and complies with local regulations.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall costs associated with the transaction. Buyers should ensure they are informed about the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Mehta Nagar?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% from Rs 938 per sq.ft to Rs 1,540 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Mehta Nagar?

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, totaling Rs 1,38,600.

Which office handles property registrations in Mehta Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Mehta Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Mehta Nagar?

Mehta Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.