Guideline Value for METTU COLONY 1ST STREET

Mettu Colony 1st Street guideline value

The current guideline value of Mettu Colony 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Mettu Colony 1st Street has changed

Looking at the historical revisions, the guideline value for Mettu Colony 1st Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,650 per sq.ft in the 2024 revision, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, reflecting a significant increase of +49% to the 2023 figure. In 2012, the value was Rs 1,500 per sq.ft, which decreased by -33% to Rs 1,005 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Mettu Colony 1st Street is below this median.

• Mettu Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Mettu Colony: Rs 1,650 per sq.ft (2024)
• Mettu Street (Vanniya): Rs 2,200 per sq.ft (2024)
• M.G.R.Street (Slum Board): Rs 1,100 per sq.ft (2024)
• Maruthi Nagar: Rs 2,200 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Colony 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that 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 details.

Which Sub Registrar Office covers Mettu Colony 1st Street?

The Sub Registrar Office covering Mettu Colony 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Iyyappanthangal, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory during the transaction process.

When you approach the Sub Registrar Office for registration, the guideline value will be assessed to ensure compliance with local regulations. It is essential to be aware of the guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Mettu Colony 1st Street?

The current guideline value of Mettu Colony 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. The value has also increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2012.

What is the land classification for Mettu Colony 1st Street?

The land classification for Mettu Colony 1st Street is Residential Class IV Type - I, which indicates the type of residential use permitted in the area.

What are the stamp duty and registration fees for property transactions?

Stamp duty and registration fees are calculated based on the guideline value. For example, for a plot valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500, which includes stamp duty and registration fees.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Mettu Colony 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.