Guideline Value for Mettucherry

Mettucherry guideline value

The current guideline value of Mettucherry is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO. The land classification is Residential Class II Type - I.

How the guideline value of Mettucherry has changed

The guideline value for Mettucherry has seen several revisions over the years. In 2002, the value was Rs 180 per sq.ft, which increased significantly to Rs 198 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,200 per sq.ft in 2007, marking a 506% increase. However, the value saw a decrease to Rs 3,500 per sq.ft in 2012, a decline of 33%. The value then increased again to Rs 2,345 per sq.ft in 2017, followed by a rise to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2011%. The register has no figure for the years between 2012 and 2017 for this street.

Guideline values in Mugappair

Mugappair has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, and Mettucherry's current value is below this median.

• Melppatti Ponnambalam Mudhali Street: Rs 3,800 per sq.ft (2024)
• Masuthi Street: Rs 5,500 per sq.ft (2024)
• M.M. Avenue: Rs 7,100 per sq.ft (2024)
• Maria Street: Rs 3,300 per sq.ft (2024)
• Mariamman Koil Street 1,2 and 3rd Street: Rs 3,300 per sq.ft (2024)
• Mogappair Eri Scheme: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mettucherry

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mettucherry?

The Sub Registrar Office that covers Mettucherry is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more details, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to consider the guideline value as it directly impacts the overall cost of registration. Ensuring that you are informed about the current guideline value can help in budgeting for the associated fees during the purchase or sale process.

Frequently asked questions

What is the current guideline value of Mettucherry?

The current guideline value of Mettucherry is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 180 per sq.ft in 2002 to the current value of Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 2011%.

What are the stamp duty and registration fees for property in Mettucherry?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,42,000, based on the current guideline value of Rs 3,800 per sq.ft.

Which office handles registrations for Mettucherry?

The Konnur Sub Registrar Office handles registrations for Mettucherry, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value in Mugappair?

The median guideline value in Mugappair is Rs 7,100 per sq.ft, with Mettucherry's current value being below this median.