Guideline Value for METTU STREET (WARD -2)

Mettu Street (Ward -2) guideline value

The current guideline value of Mettu Street (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur 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 -2) has changed

Over the years, the guideline value of Mettu Street (Ward -2) has seen several revisions. The 2012 revision set the value at 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 then further rose to Rs 440 per sq.ft in the 2024 revision. The changes between these revisions include a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figure for this street in the years 2002, 2003, and 2007.

From the 2012 revision to the 2024 revision, the overall change is a 10% increase. The current rate of Rs 440 per sq.ft reflects the latest adjustment made in 2024.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, indicating that Mettu Street (Ward -2) is below this median value.

• Mettu Street (Ward -19): Rs 440 per sq.ft (2024)
• Mettu Street (Ward -15): 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 -2)

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, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. The total cost for these fees would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Street (Ward -2)?

The Sub Registrar Office that covers Mettu Street (Ward -2) 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 Kattankollatur

The guideline value is a crucial factor when buying or selling property in Kattankollatur. It serves as a benchmark for determining the minimum price at which a property can be registered. When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to comply with registration requirements.

Additionally, the guideline value affects the stamp duty and registration fees that need to be paid during the transaction. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mettu Street (Ward -2)?

The current guideline value of Mettu Street (Ward -2) 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 -2)?

The land classification for Mettu Street (Ward -2) is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Mettu Street (Ward -2)?

The Sub Registrar Office for Mettu Street (Ward -2) is located at Chengleput Joint II Sub Registrar Office, 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800.