Guideline Value for RANI ANNA NAGAR -METTU STREET

Rani Anna Nagar -Mettu Street guideline value

The current guideline value for Rani Anna Nagar -Mettu Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Rani Anna Nagar -Mettu Street has changed

The guideline value for Rani Anna Nagar -Mettu Street has seen significant changes over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 557 per sq.ft. This increased to Rs 614 per sq.ft in 2003, marking a 10% rise. The value then experienced a substantial increase to Rs 1,150 per sq.ft in 2007, which is a growth of 87%. Following this, the value surged dramatically to Rs 6,000 per sq.ft in 2012, reflecting a remarkable 422% increase. However, it decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,085%. The register has no figure for the years between these revisions, as it only includes the specified years.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Rani Anna Nagar -Mettu Street above this median.

• Rani Anna Nagar -Navavalar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar- Main Road: Rs 6,000 per sq.ft (2024)
• Rani Anna Nagar -Poombukar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Thiru VI Ka Square: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Kalingar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar- Valluvar Nedumpathai: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Anna Nagar -Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rani Anna Nagar -Mettu Street?

The Sub Registrar Office that covers Rani Anna Nagar -Mettu Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers must be aware that the fees are based on the higher of the guideline value or the sale price, which ensures that the transaction is recorded at a fair value.

Frequently asked questions

What is the current guideline value for Rani Anna Nagar -Mettu Street?

The current guideline value for Rani Anna Nagar -Mettu Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 557 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 1,085%.

What is the median guideline value for streets in Arumbakkam?

The median guideline value for streets in Arumbakkam is Rs 6,000 per sq.ft, with Rani Anna Nagar -Mettu Street being above this median at Rs 6,600 per sq.ft.

What are the stamp duty and registration fees for a property in Rani Anna Nagar -Mettu Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Rani Anna Nagar -Mettu Street located?

The Sub Registrar Office for Rani Anna Nagar -Mettu Street is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.