Guideline Value for METHU STREET

Methu Street guideline value

The current guideline value of Methu Street is Rs 104 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Pallipattu SRO with a land classification of Residential Class I Type - I.

How the guideline value of Methu Street has changed

The guideline value for Methu Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 25 per sq.ft. This increased significantly to Rs 80 per sq.ft in 2012, marking a rise of 220%. However, from 2012 to 2017, the value decreased to Rs 54 per sq.ft, reflecting a decline of 33%. The value then rose dramatically to Rs 100 per sq.ft in 2023, an increase of 85%. The most recent revision in 2024 set the value at Rs 104 per sq.ft, a 4% increase from the previous year.

It is important to note that the register has no figures for Methu Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 316%.

Guideline values in Kolathur

In Kolathur, there are 18 streets under the Pallipattu SRO that carry a 2024 guideline value ranging from Rs 104 to Rs 150 per sq.ft, with the median value being Rs 104 per sq.ft. Methu Street's 2024 guideline value aligns perfectly with this median.

• Nadu Street: Rs 104 per sq.ft (2024)
• Ootha Vadai Street: Rs 104 per sq.ft (2024)
• Kalanzhi Street: Rs 104 per sq.ft (2024)
• Kadastreet: Rs 104 per sq.ft (2024)
• Jonugunta Street: Rs 104 per sq.ft (2024)
• Raja Street: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Methu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value would be Rs 1,04,000. The stamp duty at 7% would amount to Rs 7,280, and the registration fee at 2% would be Rs 2,080, bringing the total fees to Rs 9,360. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Methu Street?

The Sub Registrar Office that covers Methu Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kolathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as assessed by the Registration Department. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Methu Street?

The current guideline value of Methu Street is Rs 104 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 25 per sq.ft in 2007 to Rs 104 per sq.ft in 2024, representing an overall increase of 316% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with a guideline value of Rs 104 per sq.ft in 2024 include Nadu Street, Ootha Vadai Street, Kalanzhi Street, Kadastreet, Jonugunta Street, and Raja Street.

What is the stamp duty for property in Methu Street?

The stamp duty for property in Methu Street is 7% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 7,280 based on the current guideline value.

Where can I find the Sub Registrar Office for Methu Street?

The Sub Registrar Office covering Methu Street is located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.