Guideline Value for Metha Nagar Main Road

Metha Nagar Main Road guideline value

The current guideline value of Metha Nagar Main Road is Rs 2,150 per sq.ft, effective from 1 July 2024. This road is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Metha Nagar Main Road has changed

The guideline value for Metha Nagar Main Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,150 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, which is the same as the guideline value for Metha Nagar Main Road.

• Metha Nagar: Rs 2,150 per sq.ft (2024)
• M.A.V. Rajapandiyan Avenue: Rs 2,700 per sq.ft (2024)
• M.A.V. Rajapandian Avenue EXt (Rajendran Street): Rs 2,700 per sq.ft (2024)
• Masoothy Colony Main Road: Rs 2,150 per sq.ft (2024)
• Masoothy Colony Kaveri Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony 5th Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Metha Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to Rs 1,93,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metha Nagar Main Road?

The Sub Registrar Office that covers Metha Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Metha Nagar Main Road?

The current guideline value of Metha Nagar Main Road is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,150 per sq.ft in 2024, an increase of 8%. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for Metha Nagar Main Road?

Metha Nagar Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Metha Nagar Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500 at 7%.