Guideline Value for Nemilicheri Mettu Street

Nemilicheri Mettu Street guideline value

The current guideline value of Nemilicheri Mettu Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Nemilicheri Mettu Street has changed

The guideline value of Nemilicheri Mettu Street has seen several revisions over the years. The earliest recorded value was Rs 250 per sq.ft in 2007. This figure increased dramatically to Rs 2,200 per sq.ft in 2012, marking a rise of 780%. However, it then decreased to Rs 1,474 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,420 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Nemilicheri Mettu Street. Overall, the guideline value has increased by 868% from Rs 250 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value of Nemilicheri Mettu Street is above this median.

• Nemilicheri Road: Rs 2,420 per sq.ft (2024)
• Nemilicheri High Road: Rs 2,750 per sq.ft (2024)
• Nemilicheri Colony: Rs 2,160 per sq.ft (2024)
• Nellipettai Cross Street: Rs 2,160 per sq.ft (2024)
• Nellipettai 2nd Cross Street: Rs 2,160 per sq.ft (2024)
• Nellaiyappar 3rd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Nemilicheri Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nemilicheri Mettu Street?

The Sub Registrar Office that covers Nemilicheri Mettu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Nemilicherry. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. Accurate knowledge of the guideline value helps in ensuring a smooth transaction and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Nemilicheri Mettu Street?

The current guideline value of Nemilicheri Mettu Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, showing an overall increase of 868% over the years.

What is the land classification for Nemilicheri Mettu Street?

Nemilicheri Mettu Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nemilicheri Mettu Street?

The Sub Registrar Office for Nemilicheri Mettu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Nemilicheri Mettu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 24,20,000 would incur a stamp duty of Rs 1,69,400 at 7%.