Guideline Value for METTU STREET

Mettu Street guideline value

The current guideline value of Mettu Street in Vilingiyambakkam village, under the Avadi SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Mettu Street has changed

Since the earliest revision in 2003, Mettu Street's guideline value has seen significant changes. The 2003 revision recorded a value of Rs 59 per sq.ft, which increased to Rs 250 per sq.ft in 2007, marking a rise of 324%. Following this, the value surged to Rs 750 per sq.ft in 2012, reflecting a 200% increase. However, between 2012 and 2017, the value dropped to Rs 502 per sq.ft, a decrease of 33%. The subsequent revisions showed a notable increase, with the value remaining at Rs 800 per sq.ft in both 2023 and 2024, indicating no change during this period.

Overall, from the 2003 revision to the latest in 2024, the guideline value has increased by 1256%, showcasing a substantial upward trajectory despite the fluctuations observed in earlier years. It is important to note that there is no figure available for Mettu Street in the 2002 revision.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a guideline value for 2024, ranging from Rs 800 to Rs 4,400 per sq.ft. The median value of these streets is Rs 935 per sq.ft, placing Mettu Street's 2024 figure below this median.

• M.G.R.St: Rs 1,625 per sq.ft (2024)
• Marudam Nagar: Rs 935 per sq.ft (2024)
• Moses 1st Cross St: Rs 1,310 per sq.ft (2024)
• Moses St: Rs 1,310 per sq.ft (2024)
• M.R.F.Nagar: Rs 935 per sq.ft (2024)
• M.T.H.Road: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2003 to 2024, the guideline value of Mettu Street increased from Rs 59 per sq.ft to Rs 800 per sq.ft, marking an overall increase of 1256%.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 8,00,000, the stamp duty is Rs 56,000 and the registration fee is Rs 16,000, totaling Rs 72,000.

Where is the Sub Registrar Office for Mettu Street located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.