Guideline Value for METTU STREET (WARD -15)

Mettu Street (Ward -15) guideline value

The current guideline value of Mettu Street (Ward -15) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - II.

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

The guideline value for Mettu Street (Ward -15) has undergone several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and the latest revision in 2024 has set it at Rs 550 per sq.ft. The changes between these revisions are as follows: from 2012 to 2017, there was a decrease of 33%, followed by a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register has no figures for Mettu Street (Ward -15) for the years 2002, 2003, and 2007. The overall change from 2012 to 2024 reflects a 10% increase.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Mettu Street (Ward -15) below that median.

• Mettu Street (Ward -19): Rs 550 per sq.ft (2024)
• Mettu Street (Ward -2): Rs 550 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 rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that 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 Mettu Street (Ward -15)?

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

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

The guideline value is a crucial factor during the registration of property transactions in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale or purchase.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which is used to calculate the necessary fees. This process helps maintain transparency and accountability in property dealings.

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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the median guideline value in Peramanoor?

The median guideline value for streets in Peramanoor is Rs 1,100 per sq.ft, while Mettu Street (Ward -15) is currently below this median at Rs 550 per sq.ft.

What are the stamp duty and registration fees for properties in Mettu Street (Ward -15)?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles the registration for Mettu Street (Ward -15)?

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