Guideline Value for Mettupalayam 3rd Street

Mettupalayam 3rd Street guideline value

The current guideline value of Mettupalayam 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Mettupalayam 3rd Street has changed

The guideline value for Mettupalayam 3rd Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and it has now risen to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023 and decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Mettupalayam 3rd Street's 2024 guideline value is below this median.

• Mettupalayam 2nd Street: Rs 1,300 per sq.ft (2024)
• Mettupalayam 4th Street: Rs 1,300 per sq.ft (2024)
• Mettupalayam 1st Street: Rs 1,300 per sq.ft (2024)
• Mettupalayam 5th Street: Rs 1,300 per sq.ft (2024)
• Mettuma Nagar: Rs 1,300 per sq.ft (2024)
• Mettupalayam Reddy Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mettupalayam 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mettupalayam 3rd Street?

The Sub Registrar Office that covers Mettupalayam 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an important factor when registering property in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duties and registration fees.

When you buy or sell property, the guideline value helps in establishing the legal sale price, which is crucial for taxation purposes. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Mettupalayam 3rd Street?

The current guideline value of Mettupalayam 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and now to Rs 1,300 per sq.ft in 2024.

What is the land classification for Mettupalayam 3rd Street?

Mettupalayam 3rd Street is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Mettupalayam 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000.