Guideline Value for Mettupalayam 4th Street

Mettupalayam 4th Street guideline value

The current guideline value of Mettupalayam 4th 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 4th Street has changed

Over the years, the guideline value of Mettupalayam 4th Street has undergone several revisions. The figures are as follows: in 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it reached Rs 1,300 per sq.ft in the 2024 revision. The register has no figures for this street for the years 2002, 2003, and 2007.

In terms of changes, the guideline value saw a decrease of 33% from 2012 to 2017. However, it experienced a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Mettupalayam 4th Street's 2024 figure below that median.

• Mettupalayam 3rd Street: Rs 1,300 per sq.ft (2024)
• Mettupalayam 5th Street: Rs 1,300 per sq.ft (2024)
• Mettupalayam 2nd Street: Rs 1,300 per sq.ft (2024)
• Mettupalayam 1st 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to 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, making the total charges 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mettupalayam 4th Street?

The Sub Registrar Office covering Mettupalayam 4th 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 a crucial factor in property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable taxes and fees. It is essential for buyers and sellers 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 Mettupalayam 4th Street?

The current guideline value of Mettupalayam 4th 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 finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Mettupalayam 4th Street?

Mettupalayam 4th Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in Mettupalayam 4th Street?

The stamp duty for properties in Mettupalayam 4th Street is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Mettupalayam 4th Street.