Guideline Value for Mettukuppam

Mettukuppam guideline value

The current guideline value of Mettukuppam, located in Maduravoyal village under the Virugambakkam SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Mettukuppam has changed

The guideline value for Mettukuppam has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 525%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase is 588%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, placing Mettukuppam's 2024 figure below this median.

• Mettukuppam Gandhi street (Near Vel Nagar): Rs 2,750 per sq.ft (2024)
• Mettukuppam Road: Rs 3,300 per sq.ft (2024)
• Metro Nagar Extension: Rs 3,050 per sq.ft (2024)
• Metro Nagar Alapakkam Main Road: Rs 5,500 per sq.ft (2024)
• Metro Nagar 7th Main Road: Rs 3,050 per sq.ft (2024)
• Metro Nagar 6th Main Road: Rs 3,050 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to 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 further calculations.

Which Sub Registrar Office covers Mettukuppam?

The Sub Registrar Office that covers Mettukuppam is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Maduravoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mettukuppam?

The current guideline value of Mettukuppam is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 400 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, with various revisions reflecting increases and decreases over the years.

What is the registration fee for property in Mettukuppam?

The registration fee for property in Mettukuppam is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mettukuppam located?

The Sub Registrar Office for Mettukuppam is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How do I calculate stamp duty for property in Mettukuppam?

Stamp duty for property in Mettukuppam is calculated at 7% of the guideline value or sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.