Guideline Value for Mettu Palayam (Eruppu Padhai)

Mettu Palayam (Eruppu Padhai) guideline value

The current guideline value of Mettu Palayam (Eruppu Padhai) is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Paruthivakkam village, under the Alandur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Mettu Palayam (Eruppu Padhai) has changed

The guideline value for Mettu Palayam (Eruppu Padhai) has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, this value saw a decrease to Rs 3,350 per sq.ft in 2017, representing a 33% decline. The value then rose to Rs 5,000 per sq.ft in 2023, and most recently, it has increased to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Paruthivakkam

In Paruthivakkam, there are 14 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 4,400 per sq.ft. Mettu Palayam (Eruppu Padhai) is above this median with its current value of Rs 5,500 per sq.ft.

• Mettu Street/Paris Apts.,: Rs 3,900 per sq.ft (2024)
• M.K.N. Road: Rs 6,600 per sq.ft (2024)
• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)
• Margo Lane (Margoss Lane): Rs 2,800 per sq.ft (2024)
• Madhurai Naiken Street (Madurai Street): Rs 4,400 per sq.ft (2024)
• Pachaiyamman Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Palayam (Eruppu Padhai)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Palayam (Eruppu Padhai)?

The Sub Registrar Office that covers Mettu Palayam (Eruppu Padhai) 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 Paruthivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Paruthivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of their financial obligations.

Frequently asked questions

What is the current guideline value of Mettu Palayam (Eruppu Padhai)?

The current guideline value of Mettu Palayam (Eruppu Padhai) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the registration office for Mettu Palayam (Eruppu Padhai)?

The registration office for Mettu Palayam (Eruppu Padhai) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for property in Mettu Palayam (Eruppu Padhai)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.

What are the other guideline values in Paruthivakkam?

In Paruthivakkam, guideline values range from Rs 2,800 to Rs 6,600 per sq.ft. Mettu Palayam (Eruppu Padhai) has a value of Rs 5,500 per sq.ft, which is above the median value of Rs 4,400 per sq.ft.