Guideline Value for METTU STREET LANE

Mettu Street Lane guideline value

The current guideline value of Mettu Street Lane in Tiruttani village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Thiruttani SRO and is classified as Commercial Class I Type - II.

How the guideline value of Mettu Street Lane has changed

The guideline value for Mettu Street Lane has seen several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 603 per sq.ft. This increased to Rs 900 per sq.ft in 2023, marking a change of +49%. The most recent revision in 2024 has set the value at Rs 990 per sq.ft, which is a +10% increase from the previous year.

There are no recorded figures for Mettu Street Lane in the years 2002, 2003, 2007, and 2012. Overall, the guideline value has increased by +64% from 2017 to 2024.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value, ranging from Rs 548 to Rs 1,540 per sq.ft. The median value among these streets is Rs 825 per sq.ft, placing Mettu Street Lane's 2024 figure above this median.

• Mettu Street: Rs 990 per sq.ft (2024)
• Mgr Nagar 1st Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 2nd Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 3rd Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 4th Lane: Rs 770 per sq.ft (2024)
• Mgr Nagar 5th Lane: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that 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 Lane?

The Mettu Street Lane falls under the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tiruttani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value set by the authorities.

When engaging in property transactions, it is essential to be aware of the guideline value as it can impact the overall financial obligations involved in the purchase or sale. Buyers and sellers should ensure that they are informed about the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Mettu Street Lane?

The current guideline value of Mettu Street Lane is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 603 per sq.ft in 2017 to Rs 990 per sq.ft in 2024, marking a total increase of +64% over this period.

What are the stamp duty and registration fees for property in Mettu Street Lane?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Mettu Street Lane?

The Thiruttani Sub Registrar Office covers Mettu Street Lane, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that these costs are based on a standardized value set by the authorities, impacting the overall financial obligations of buyers and sellers.