Guideline Value for Mettukazhani Cross Street

Mettukazhani Cross Street guideline value

The current guideline value of Mettukazhani Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Mettukazhani Cross Street has changed

The guideline value for Mettukazhani Cross Street has undergone several revisions over the years. The earliest recorded figure in the register is from 2002, with a guideline value of Rs 250 per sq.ft. This was followed by Rs 285 per sq.ft in 2003, an increase of 14%. The value saw a significant rise to Rs 900 per sq.ft in 2007, marking a 216% increase. In 2012, the value was recorded again at Rs 3,500 per sq.ft, which represented a 289% increase from the previous revision. However, this figure dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The most recent revisions show a value of Rs 3,500 per sq.ft in 2023, which then increased to Rs 3,900 per sq.ft in 2024, reflecting an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1460%. There are no recorded figures for any other years regarding 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 value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Mettukazhani Cross Street.

• Mettu Kazhani 2nd Lane: 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 Mettukazhani Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, these fees total 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettukazhani Cross Street?

The Sub Registrar Office that covers Mettukazhani Cross 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 more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value to avoid any legal issues during registration. This ensures that the transaction is compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Mettukazhani Cross Street?

The current guideline value of Mettukazhani Cross 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 seen significant changes, increasing from Rs 250 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 1460%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Which office handles property registrations for Mettukazhani Cross Street?

The Alandur Sub Registrar Office handles property registrations for Mettukazhani Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Mettukazhani Cross Street?

Mettukazhani Cross Street is classified as Residential Class I Type - III, indicating its suitability for residential development.