Guideline Value for Metha Nagar

Metha Nagar guideline value

The current guideline value of Metha Nagar is Rs 2,150 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Metha Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and further rose to the current value of Rs 2,150 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, which aligns with the current value of Metha Nagar.

• Metha Nagar Main Road: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, making the total fees Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Metha Nagar?

The Sub Registrar Office covering Metha Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the 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, as it determines the minimum price at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. This value not only affects the financial aspects of the transaction but also serves as a reference for property valuation in the area.

Frequently asked questions

What is the current guideline value of Metha Nagar?

The current guideline value of Metha Nagar 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 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the median guideline value in Rajakilpakkam?

The median guideline value in Rajakilpakkam is Rs 2,150 per sq.ft, which is the same as the current value for Metha Nagar.

What are the stamp duty rates for property in Metha Nagar?

The stamp duty for property in Metha Nagar is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Selaiyur Sub Registrar Office located?

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