Guideline Value for MettuKazhani Street

MettuKazhani Street guideline value

The current guideline value of MettuKazhani Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of MettuKazhani Street has changed

The guideline value for MettuKazhani Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 250 per sq.ft. This increased to Rs 285 per sq.ft in 2003, marking a 14% rise. The value saw significant growth to Rs 900 per sq.ft in 2007, which represents a 216% increase. By 2012, the value was Rs 3,500 per sq.ft, reflecting a substantial increase of 289% from the previous revision. However, it then decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value rose to Rs 3,500 per sq.ft, and then it increased again to Rs 3,900 per sq.ft in 2024, which is an 11% change. Overall, from 2002 to 2024, the guideline value has increased by 1460%. There are no figures available for the revisions in years other than those listed.

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 is Rs 3,900 per sq.ft, which is equal to the current figure for MettuKazhani Street.

• Mettukazhani Cross Street: Rs 3,900 per sq.ft (2024)
• Mettukazhani Street 1st Lane: Rs 3,900 per sq.ft (2024)
• Mettu Kazhani 2nd 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 MettuKazhani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total 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, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers MettuKazhani Street?

The Sub Registrar Office that covers MettuKazhani Street 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 further assistance.

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

The guideline value is a crucial reference for property transactions in Adambakkam. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

During the registration process, the guideline value helps determine the official valuation of the property. This valuation is essential for ensuring that the correct fees are paid and that the property is registered accurately in the records.

Frequently asked questions

What is the current guideline value of MettuKazhani Street?

The current guideline value of MettuKazhani Street 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, marking an overall increase of 1460%.

What is the registration office for MettuKazhani Street?

The registration office for MettuKazhani Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000. The stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.