Guideline Value for Mettupalayam 5th Street

Mettupalayam 5th Street guideline value

The current guideline value of Mettupalayam 5th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mettupalayam 5th Street has changed

The guideline value for Mettupalayam 5th Street has undergone several revisions over the years. The 2024 revision sets the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision had the value at Rs 804 per sq.ft, showing a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Thus, the earliest recorded value is from the 2012 revision, which was Rs 1,200 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have 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. The guideline value of Mettupalayam 5th Street is below this median.

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

Stamp duty and registration fee for property in Mettupalayam 5th 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 amount to 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 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 specific calculations.

Which Sub Registrar Office covers Mettupalayam 5th Street?

The Sub Registrar Office that covers Mettupalayam 5th 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 the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects an accurate valuation.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mettupalayam 5th Street?

The current guideline value of Mettupalayam 5th 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 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. It increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, a rise of 49%.

What is the land classification of Mettupalayam 5th Street?

Mettupalayam 5th Street is classified as Residential Class III Type - I.

Where is the Madhavaram Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot at the current rate, the total fees would be Rs 1,17,000.