Guideline Value for Mettupalayam Street

Mettupalayam Street guideline value

The current guideline value of Mettupalayam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ist Division village under the Kanchipuram Joint IV SRO, classified as Residential Class I Type - III.

How the guideline value of Mettupalayam Street has changed

The guideline value for Mettupalayam Street has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft. It increased significantly to Rs 1,000 per sq.ft in 2012, but then decreased to Rs 670 per sq.ft in 2017. The value saw a substantial rise to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 has raised it further to Rs 1,100 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 is a further 10%. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Ist Division

In the Ist Division village, there are 79 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 3,300 per sq.ft, with a median value of Rs 880 per sq.ft. Mettupalayam Street's current guideline value is above this median.

• Mettu Kammal Street: Rs 880 per sq.ft (2024)
• Mottai Kulam Street: Rs 880 per sq.ft (2024)
• Mudaliar Street @ Vedantham Street: Rs 880 per sq.ft (2024)
• Munram Thiruvizha Mandapam Street: Rs 880 per sq.ft (2024)
• Malaiyala Street: Rs 1,650 per sq.ft (2024)
• Makaliyamman Koil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Mettupalayam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 more details.

Which Sub Registrar Office covers Mettupalayam Street?

The Sub Registrar Office that covers Mettupalayam Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ist Division. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Mettupalayam Street?

The current guideline value of Mettupalayam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the stamp duty for property on Mettupalayam Street?

The stamp duty for property on Mettupalayam Street is 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 77,000.

Where is the Sub Registrar Office for Mettupalayam Street located?

The Sub Registrar Office for Mettupalayam Street is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, in the Chengalpattu registration zone.

What does the guideline value indicate?

The guideline value indicates the minimum value at which property transactions should be registered. It is used to calculate stamp duty and registration fees during property sales.