Guideline Value for METTU STREET

Mettu Street guideline value

The current guideline value of Mettu Street in Thiruvanmiyur village is Rs 11,000 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen significant changes over the years. In 2002, the value was Rs 648 per sq.ft, which increased to Rs 717 per sq.ft in 2003, marking an 11% rise. The value then jumped to Rs 1,300 per sq.ft in 2007, reflecting an 81% increase. Following this, the value surged to Rs 10,000 per sq.ft in 2012, a remarkable increase of 669%. However, it decreased to Rs 6,700 per sq.ft in 2017, showing a decline of 33% before rising to Rs 10,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the value at Rs 11,000 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 is an increase of 1598%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. Mettu Street's 2024 figure is above this median.

• M.G.Ramachandra Road: Rs 12,660 per sq.ft (2024)
• Meenatchi Nagar: Rs 7,150 per sq.ft (2024)
• M.G.R. Street: Rs 11,000 per sq.ft (2024)
• Mayanam Street: Rs 3,520 per sq.ft (2024)
• Marutheeswarar Nagar: Rs 3,520 per sq.ft (2024)
• Mandalam Street (Road): Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Thiruvanmiyur. It is essential for calculating the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of this value as it directly impacts the overall cost of the transaction.

When registering a property, the guideline value is used to determine the applicable fees, ensuring that all transactions comply with the regulations set by the registration department. It is crucial for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 648 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, showing an overall increase of 1598%.

What is the stamp duty rate for properties in Mettu Street?

The stamp duty rate for properties in Mettu Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mettu Street located?

The Sub Registrar Office for Mettu Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the guideline values for other streets in Thiruvanmiyur?

Other streets in Thiruvanmiyur have varying guideline values, with rates ranging from Rs 3,520 to Rs 12,660 per sq.ft. Mettu Street's value is above the median of Rs 9,900 per sq.ft.