Guideline Value for Mettu Kazhani 2nd Lane

Mettu Kazhani 2nd Lane guideline value

The current guideline value of Mettu Kazhani 2nd Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, which falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Mettu Kazhani 2nd Lane has changed

The guideline value of Mettu Kazhani 2nd Lane has seen several revisions over the years. The earliest recorded figure in the register is from 2002, when the value was Rs 250 per sq.ft. This increased to Rs 285 per sq.ft in 2003, marking a 14% rise. The value then saw a significant jump to Rs 900 per sq.ft in 2007, an increase of 216%. In 2012, the guideline value was recorded at Rs 3,500 per sq.ft, which represented a remarkable 289% increase from the previous figure.

From 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. However, this was followed by a substantial increase to Rs 3,500 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Mettu Kazhani 2nd Lane.

• Mettukazhani Cross Street: Rs 3,900 per sq.ft (2024)
• MettuKazhani Street: Rs 3,900 per sq.ft (2024)
• Mettukazhani Street 1st Lane: Rs 3,900 per sq.ft (2024)
• Medavakkam South New Lane: Rs 5,000 per sq.ft (2024)
• Medavakkam Main Road: Rs 5,500 per sq.ft (2024)
• Medavakkam First Lane: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Kazhani 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total Rs 3,51,000. 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 Mettu Kazhani 2nd Lane?

The Sub Registrar Office that covers Mettu Kazhani 2nd Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Adambakkam. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the transaction.

During the registration process, the guideline value is considered to protect the interests of the state and ensure that properties are not undervalued. Buyers should be prepared to pay the stamp duty based on this value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mettu Kazhani 2nd Lane?

The current guideline value of Mettu Kazhani 2nd Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1460%.

What is the land classification for Mettu Kazhani 2nd Lane?

The land classification for Mettu Kazhani 2nd Lane is Residential Class I Type - III.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mettu Kazhani 2nd Lane?

The Sub Registrar Office for Mettu Kazhani 2nd Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.