Guideline Value for METTU STREET

Mettu Street guideline value

The current guideline value of Mettu Street is Rs 202 per sq.ft, effective from 1 July 2024. This street is located in Podaturpet village under the Pallipattu SRO, classified as Residential Class III Type - I.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, and 2012. The 2017 revision set the guideline value at Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in the 2023 revision, marking a 100% increase. The latest revision in 2024 raised the value to Rs 202 per sq.ft, reflecting a 1% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 102%. The consistent upward trend in the guideline value indicates changes in property valuation over the years.

Guideline values in Podaturpet

In Podaturpet, there are 47 streets under the Pallipattu SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 250 per sq.ft. Mettu Street's 2024 guideline value is below this median.

• Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Mangalam Kezhar Street: Rs 250 per sq.ft (2024)
• Malepothatur Reddy Street: Rs 126 per sq.ft (2024)
• Nadu Street: Rs 250 per sq.ft (2024)
• Nagallamman Koil Street: Rs 250 per sq.ft (2024)
• Madam Street: Rs 202 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 202 per sq.ft, the total guideline value amounts to Rs 2,02,000. The stamp duty at 7% would be Rs 14,140, and the registration fee at 2% would be Rs 4,040, bringing the total charges to Rs 18,180. It is important to note that the 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 information on these charges.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.

For further details, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Podaturpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is essential for calculating stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 202 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and then to Rs 202 per sq.ft in 2024. This reflects a 102% increase from 2017 to 2024.

What is the median guideline value of streets in Podaturpet?

The median guideline value of streets in Podaturpet is Rs 250 per sq.ft. Mettu Street's 2024 value is below this median.

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

The stamp duty for a property valued at Rs 2,02,000 is Rs 14,140, and the registration fee is Rs 4,040, totaling Rs 18,180. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Mettu Street?

The Pallipattu Sub Registrar Office is responsible for property registrations in Mettu Street, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207.