Guideline Value for Metha Nagar East 17th Street

Metha Nagar East 17th Street guideline value

The current guideline value of Metha Nagar East 17th Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Metha Nagar East 17th Street has changed

The guideline value for Metha Nagar East 17th Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in the 2023 revision. The most recent 2024 revision shows a further increase to Rs 1,540 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting the changes in the real estate landscape in the area.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which is the same as the guideline value for Metha Nagar East 17th Street.

• Metha Nagar East 1st Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 14th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 15th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 16th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 18th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar East 19th Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Metha Nagar East 17th Street

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metha Nagar East 17th Street?

The Metha Nagar East 17th Street falls under the jurisdiction of 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 in the registration process when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates for specific areas.

When engaging in property transactions, it is essential to be aware of the guideline value, as it impacts the overall expenses involved in the registration process. Buyers and sellers should consult the latest revisions to ensure compliance with the current rates.

Frequently asked questions

What is the current guideline value of Metha Nagar East 17th Street?

The current guideline value of Metha Nagar East 17th Street 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 changed from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and then to Rs 1,540 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What are the registration fees for property in Metha Nagar East 17th Street?

The registration fees are calculated based on the guideline value. For a 1,000 sq.ft plot, the total registration fee would be Rs 30,800 at a rate of 2% of the guideline value.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Metha Nagar East 17th Street, located at No.59, Road Street, Kundrathur, Chennai - 600 069.

What is the significance of the guideline value in property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It ensures that these costs are aligned with the established rates for the specific area, providing transparency in the registration process.