Guideline Value for METTU STREET

Mettu Street guideline value

The current guideline value of Mettu Street in Ernavur village, under the Thiruvottiyur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has undergone several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a substantial rise of 271%. However, this value dropped to Rs 871 per sq.ft in 2017, a decrease of 33%. The guideline value then saw a significant increase to Rs 1,300 per sq.ft in 2023, followed by another rise to the current value of Rs 1,400 per sq.ft in 2024, representing an 8% increase.

There are no figures available for Mettu Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Mettu Street's 2024 figure is below this median.

• Mariamman Koil Street: Rs 1,400 per sq.ft (2024)
• Mullai Nagar: Rs 1,600 per sq.ft (2024)
• Manali Express Road: Rs 3,300 per sq.ft (2024)
• MURUGAPPA NAGAR (Barathi Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Elango Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Ganthi Street): Rs 1,800 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 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office covering Mettu Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Ernavur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property sale.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that all transactions are conducted fairly and transparently. This value is essential for both buyers and sellers to understand their financial obligations during the process.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Class I Type - III, which is relevant for determining its guideline value.

What are the stamp duty rates for properties in Mettu Street?

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

Where is the Sub Registrar Office for Mettu Street located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.