Guideline Value for Mettukuppam

Mettukuppam guideline value

The current guideline value of Mettukuppam, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Mettukuppam has changed

The guideline value of Mettukuppam has undergone several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, this figure dropped to Rs 1,809 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 2,700 per sq.ft, followed by the current value of Rs 2,970 per sq.ft from the 2024 revision.

Between the revisions, there have been significant changes. The increase from 2023 to 2024 was 10%, while the jump from 2017 to 2023 was 49%. The 2012 to 2017 period saw a decrease of 33%, and the 2007 to 2012 period experienced a remarkable increase of 350%. Overall, from 2007 to 2024, the guideline value has risen by 395%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

Mogalivakkam has a total of 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the current guideline value for Mettukuppam.

• Mettukuppam Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Mm Avenue: Rs 3,600 per sq.ft (2024)
• Maris Avenue: Rs 6,600 per sq.ft (2024)
• Mariamman Koil Street: Rs 2,970 per sq.ft (2024)
• Maragatham Chandrasekar Nagar: Rs 2,970 per sq.ft (2024)
• Manapakkam Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Mettukuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transactions.

Which Sub Registrar Office covers Mettukuppam?

The Sub Registrar Office that covers Mettukuppam is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Mogalivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mettukuppam?

The current guideline value of Mettukuppam is Rs 2,970 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 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 395% over the years.

What are the other streets in Mogalivakkam and their guideline values?

Other streets in Mogalivakkam include Mettukuppam Bajanai Koil Street, Mm Avenue, Maris Avenue, Mariamman Koil Street, Maragatham Chandrasekar Nagar, and Manapakkam Road, with values ranging from Rs 2,970 to Rs 6,600 per sq.ft.

What fees are involved when registering property in Mettukuppam?

When registering property in Mettukuppam, buyers need to consider the stamp duty, which is 7% of the guideline value, and the registration fee, which is 2% of the guideline value.

Where can I find the Sub Registrar Office for Mettukuppam?

The Sub Registrar Office for Mettukuppam is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information online.