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 Panangottur 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

The guideline value for Mettu Street (Ward -2) has undergone several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 268 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a marginal increase of 10%.

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. The median value for these streets is Rs 990 per sq.ft, positioning Mettu Street (Ward -2) below this median.

• 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 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, 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 and the sale price.

For further calculations, 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, in the 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 a crucial factor in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

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, which indicates the type of residential use permitted in this area.

What are the stamp duty and registration fees for a property in Mettu Street (Ward -2)?

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, totaling Rs 39,600.

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 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II SRO.