Guideline Value for Metha Nagar West 3rd Street

Metha Nagar West 3rd Street guideline value

The current guideline value of Metha Nagar West 3rd 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, and it falls under the land classification of Residential Special Type - I.

How the guideline value of Metha Nagar West 3rd Street has changed

The guideline value for Metha Nagar West 3rd Street has seen 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 2024 revision has set the value at Rs 1,540 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen 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 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 guideline value of Metha Nagar West 3rd Street.

• Metha Nagar West 2nd Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar West 4th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar West 1st Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar West 5th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar West 19th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar West 6th Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Metha Nagar West 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,540 per sq.ft, the 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. 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 West 3rd Street?

The Sub Registrar Office that covers Metha Nagar West 3rd Street 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 during property registration in Kunrathour-B. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value, reflecting the market conditions and property classification. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Metha Nagar West 3rd Street?

The current guideline value of Metha Nagar West 3rd 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 increased from Rs 938 per sq.ft in 2017 to Rs 1,540 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Metha Nagar West 3rd Street?

Metha Nagar West 3rd Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in this area?

Stamp duty is 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 at a rate of 7%.