Guideline Value for Mettu Kulam

Mettu Kulam guideline value

The current guideline value of Mettu Kulam in Koyakbedu village, under the AnnaNagar SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Mettu Kulam has changed

Over the years, the guideline value of Mettu Kulam has seen several revisions. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking an increase of 82%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the latest 2024 revision has set it at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, the increase was significant at 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has doubled, showing a 100% increase over this period.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Mettu Kulam's 2024 figure below this median.

• MMDA Wholesale Market: Rs 7,700 per sq.ft (2024)
• Mmda Wholesale Market A Road: Rs 7,700 per sq.ft (2024)
• M.M.D.A. Whole Sale Market Shop No.TD 89 only: Rs 7,700 per sq.ft (2024)
• Mannady Street: Rs 3,300 per sq.ft (2024)
• Mangammal Colony: Rs 3,300 per sq.ft (2024)
• Mullai Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Kulam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Kulam?

The Sub Registrar Office that covers Mettu Kulam is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Koyakbedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and the overall transaction process. Buyers should ensure that the sale price is aligned with the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Mettu Kulam?

The current guideline value of Mettu Kulam is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a 100% increase over this period.

What is the land classification of Mettu Kulam?

Mettu Kulam is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for Mettu Kulam?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.