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 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 -2) has changed

The guideline value for Mettu Street (Ward -2) has experienced several revisions over the years. The most recent revision in 2024 set the value at Rs 440 per sq.ft, an increase from Rs 400 per sq.ft in 2023, marking a 10% rise. Prior to this, the 2017 revision recorded a value of Rs 268 per sq.ft, which reflects a substantial increase of 49% to the 2023 figure. The 2012 revision also set the value at Rs 400 per sq.ft, indicating a decrease of 33% when compared to the 2017 revision. 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. This lack of data highlights the fluctuations in guideline values over the years, with the most significant changes occurring between the 2017 and 2023 revisions.

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 2024. The median guideline value for these streets is Rs 1,100 per sq.ft, placing 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 amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is set by the government and can vary from one street to another.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the 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 2023 to Rs 440 per sq.ft in 2024. It was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification for Mettu Street (Ward -2)?

The land classification for Mettu Street (Ward -2) is Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in this area.

How is the stamp duty calculated for properties in Mettu Street (Ward -2)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 39,600, including both stamp duty and registration fees.