Guideline Value for METTU STREET (WARD -19)

Mettu Street (Ward -19) guideline value

The current guideline value for Mettu Street (Ward -19) 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 -19) has changed

The guideline value for Mettu Street (Ward -19) has seen several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and most recently to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. 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 Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. Mettu Street (Ward -19) is below this median value.

• Mettu Street (Ward -15): 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 -19)

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, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Street (Ward -19)?

The Sub Registrar Office covering Mettu Street (Ward -19) 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 information.

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

The guideline value is used as a reference point during the registration of property transactions in Panangottur. It helps determine the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value for Mettu Street (Ward -19)?

The current guideline value for Mettu Street (Ward -19) 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 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 -19)?

Mettu Street (Ward -19) is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in Mettu Street (Ward -19)?

The stamp duty for properties in Mettu Street (Ward -19) is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mettu Street (Ward -19)?

The Sub Registrar Office for Mettu Street (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.