Guideline Value for METTUSTREET

Mettustreet guideline value

The current guideline value of Mettustreet in Kodivalasa village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Pallipattu SRO and is classified as Residential Class I Type - I.

How the guideline value of Mettustreet has changed

The guideline value for Mettustreet has seen several revisions over the years. In 2007, the value was set at Rs 85 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, it dropped to Rs 167 per sq.ft in 2017. The value remained at Rs 250 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 50%. The jump from 2007 to 2012 represented a substantial increase of 194%. Overall, from 2007 to 2024, the guideline value has risen by 194%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodivalasa

Kodivalasa village has 17 streets under the Pallipattu SRO with a 2024 guideline value ranging from Rs 175 to Rs 250 per sq.ft. Mettustreet's 2024 figure of Rs 250 per sq.ft is above the median value of Rs 200 per sq.ft for the village.

• MUNIYAPPAMUDALI St.,: Rs 200 per sq.ft (2024)
• Oddar Street: Rs 200 per sq.ft (2024)
• Ottavadaistreet: Rs 200 per sq.ft (2024)
• Kodivalasaroad: Rs 250 per sq.ft (2024)
• PILLYARKOIL St.,: Rs 200 per sq.ft (2024)
• Ramannastreet: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mettustreet

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mettustreet?

The Sub Registrar Office that covers Mettustreet is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodivalasa. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is typically compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Mettustreet?

The current guideline value of Mettustreet is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 85 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and has remained at Rs 250 per sq.ft in 2023 and 2024.

What is the land classification of Mettustreet?

Mettustreet is classified as Residential Class I Type - I under the Pallipattu SRO.

Where can I find the Sub Registrar Office for Mettustreet?

The Sub Registrar Office for Mettustreet is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207.

How is stamp duty calculated for properties in Kodivalasa?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 2,50,000 would incur a stamp duty of Rs 17,500 at 7%.