Guideline Value for Metha Nagar (A.J.)

Metha Nagar (A.J.) guideline value

The current guideline value for Metha Nagar (A.J.) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Metha Nagar (A.J.) has changed

The guideline value for Metha Nagar (A.J.) has seen significant changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,600 per sq.ft, marking a change of +33%. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

From the 2012 revision to the 2024 revision, the increase reflects the evolving real estate landscape in the area. The current guideline value aligns with the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO, which range from Rs 1,300 to Rs 7,500 per sq.ft.

Guideline values in Madhavaram

The guideline values in Madhavaram demonstrate a diverse range, with the current figures for various streets reflecting the area's residential classification. Metha Nagar (A.J.) sits at the median value of Rs 1,600 per sq.ft for 2024.

• Merryland Estates (Ward-02): Rs 1,300 per sq.ft (2024)
• Meri Land Est.: Rs 1,300 per sq.ft (2024)
• Metha Nagar (Madhavaram Milk Pannai): Rs 1,600 per sq.ft (2024)
• Metha Nagar Periya Street (Ward-16): Rs 1,300 per sq.ft (2024)
• Melaveethi: Rs 1,600 per sq.ft (2024)
• Mehta Nagar (Ward-16): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Metha Nagar (A.J.)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, these fees total Rs 1,44,000. 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 Metha Nagar (A.J.)?

The Sub Registrar Office that covers Metha Nagar (A.J.) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

It is essential for both buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of Metha Nagar (A.J.)?

The current guideline value of Metha Nagar (A.J.) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, representing a +33% increase. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What other streets have guideline values in Madhavaram?

Other streets in Madhavaram include Merryland Estates (Ward-02) and Meri Land Est. at Rs 1,300 per sq.ft, while Metha Nagar (Madhavaram Milk Pannai) and Melaveethi are at Rs 1,600 per sq.ft.

What is the stamp duty for property in Metha Nagar (A.J.)?

The stamp duty for property in Metha Nagar (A.J.) is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 1,12,000 based on the current guideline value.

Where is the Sub Registrar Office for Metha Nagar (A.J.) located?

The Sub Registrar Office for Metha Nagar (A.J.) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.