Guideline Value for METTU STREET (WARD -15)

Mettu Street (Ward -15) guideline value

The current guideline value of Mettu Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is 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. The earliest available figure is from the 2012 revision, which was Rs 400 per sq.ft. In the 2017 revision, the value decreased to Rs 268 per sq.ft, marking a decline of 33%. However, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and further rose to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for Mettu Street in the revisions from 2002, 2003, and 2007. The guideline value history for this street shows a notable increase from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, which is a change of 49% over that period.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft as of the 2024 revision. The median guideline value in this village is Rs 1,100 per sq.ft, indicating that Mettu Street's current value is below this median.

• 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 would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. 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 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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps in assessing the financial obligations associated with the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value for 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 is the land classification for Mettu Street (Ward -15)?

The land classification for Mettu Street (Ward -15) is Residential Class II Type - II.

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

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

How is the stamp duty calculated for properties in Mettu Street (Ward -15)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at 7%.