Guideline Value for METTU STREET (WARD -15)

Mettu Street (Ward -15) guideline value

The current guideline value of Mettu Street (Ward -15) in Panangottur village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Mettu Street (Ward -15) has changed

Over the years, the guideline value of Mettu Street (Ward -15) has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 268 per sq.ft. However, the value increased to Rs 400 per sq.ft in 2023 and further rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a notable decline of 33%, but the value surged by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Mettu Street (Ward -15) below this median value.

• Mettu Street (Ward -19): Rs 440 per sq.ft (2024)
• Mettu Street (Ward -2): Rs 440 per sq.ft (2024)
• Mgr Salai (Ward -6): Rs 2,200 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Masthan Sahib Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Maruthupandiya Street (Ward -8): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mettu Street (Ward -15)?

The Sub Registrar Office that covers Mettu Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that properties are not undervalued, thus protecting the interests of the government and ensuring fair revenue collection. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration of their property.

Frequently asked questions

What is the current guideline value of Mettu Street (Ward -15)?

The current guideline value of Mettu Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the other streets in Panangottur with similar guideline values?

Other streets in Panangottur with the same guideline value of Rs 440 per sq.ft include Mettu Street (Ward -19) and Mettu Street (Ward -2).

What is the registration fee for property in Mettu Street (Ward -15)?

The registration fee for property in Mettu Street (Ward -15) is calculated based on the guideline value. For example, for a 1,000 sq.ft plot, the registration fee would be Rs 8,800.

Where can I find the Sub Registrar Office for Mettu Street (Ward -15)?

The Sub Registrar Office for Mettu Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.