Guideline Value for PERIYA METTU PALAYAM STREETS

Periya Mettu Palayam Streets guideline value

The current guideline value for Periya Mettu Palayam Streets is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the jurisdiction of the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Periya Mettu Palayam Streets has changed

The guideline value for Periya Mettu Palayam Streets has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, the value then dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 brought the value up to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which increased it to Rs 3,300 per sq.ft, reflecting a 10% change.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a substantial increase of 450%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which matches the current guideline value for Periya Mettu Palayam Streets.

• Periyar Nagar: Rs 3,700 per sq.ft (2024)
• Peillaiyar Koil Street: Rs 3,700 per sq.ft (2024)
• Pattinathar Koil Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Pananthoppu Colony (Market Lane): Rs 2,800 per sq.ft (2024)
• Palaya Kinaru Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Mettu Palayam Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is charged at 7%, which totals Rs 2,31,000, and the registration fee is at 2%, amounting to Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Mettu Palayam Streets?

The Sub Registrar Office that covers Periya Mettu Palayam Streets is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Hence, understanding the guideline value is essential for both buyers and sellers in Thiruvottiyur.

Frequently asked questions

What is the current guideline value for Periya Mettu Palayam Streets?

The current guideline value for Periya Mettu Palayam Streets is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Periya Mettu Palayam Streets?

Periya Mettu Palayam Streets is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Periya Mettu Palayam Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.