Guideline Value for METTU STREET

Mettu Street guideline value

The current guideline value of Mettu Street in Ekkaduthangal village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. In 2002, the value was Rs 294 per sq.ft, which increased to Rs 339 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, marking an increase of 195%. The 2012 revision saw a decrease to Rs 3,200 per sq.ft, a drop of 33%. In 2017, the value increased again to Rs 2,144 per sq.ft, and by 2023, it further rose to Rs 3,200 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,097%. Notably, the register has no figures for the years not listed in this article.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Mettu Street's 2024 figure is below this median.

• Meenakshi Street: Rs 3,520 per sq.ft (2024)
• Munusamy Reddy Street: Rs 4,620 per sq.ft (2024)
• Mancholai St: Rs 4,950 per sq.ft (2024)
• Mancholai 3rd St: Rs 4,950 per sq.ft (2024)
• Mancholai 2nd Main Rd: Rs 4,950 per sq.ft (2024)
• Mancholai 1st Main Rd: Rs 4,950 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the 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 Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

During registration, 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 294 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1,097% over the years.

What are the other streets in Ekkaduthangal with their guideline values?

Other streets in Ekkaduthangal include Meenakshi Street at Rs 3,520 per sq.ft, Munusamy Reddy Street at Rs 4,620 per sq.ft, and several Mancholai streets at Rs 4,950 per sq.ft.

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

For a property valued at Rs 35,20,000, the stamp duty is Rs 2,46,400 and the registration fee is Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Mettu Street?

Mettu Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.