Guideline Value for Mettu Colony IInd Road

Mettu Colony IInd Road guideline value

The current guideline value of Mettu Colony IInd Road is Rs 660 per sq.ft, effective from 1 July 2024. This road is located in Old Gummidipoondi village, under the Gummidipoondi SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mettu Colony IInd Road has changed

The guideline value for Mettu Colony IInd Road has seen several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then to the current rate of Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the 2024 figure for Mettu Colony IInd Road.

• Mettu Colony Burial Road: Rs 660 per sq.ft (2024)
• Mettu Colony Ward No.5 Door No.1-70: Rs 660 per sq.ft (2024)
• Mettu Street Ward No.2 Door No.1-81: Rs 330 per sq.ft (2024)
• Milagai Chedi Kulam: Rs 660 per sq.ft (2024)
• Ma.Po.Si. Nagar Main: Rs 660 per sq.ft (2024)
• Ma.Po.Si. Nagar Ist Street ward No.13 Door No.13: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Colony IInd Road

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Colony IInd Road?

The Mettu Colony IInd Road is covered by the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Old Gummidipoondi. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the government register. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mettu Colony IInd Road?

The current guideline value of Mettu Colony IInd Road is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Mettu Colony IInd Road?

Mettu Colony IInd Road is classified as Residential Class II Type - I.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is the stamp duty calculated for properties in Mettu Colony IInd Road?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.