Guideline Value for Mettis

Mettis guideline value

The current guideline value of Mettis, located in Naduveerapattu village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mettis has changed

The guideline value for Mettis has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. The 2023 revision marked an increase to Rs 500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 550 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 represents a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village has 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, making the current value of Mettis lower than this median.

• Metbeev Nagar: Rs 550 per sq.ft (2024)
• M.M Nagar: Rs 550 per sq.ft (2024)
• M.M Nagar Extn-I: Rs 770 per sq.ft (2024)
• Malar Nagar: Rs 2,010 per sq.ft (2024)
• Madha Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Mettis

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettis?

The Sub Registrar Office that covers Mettis is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mettis?

The current guideline value of Mettis is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Mettis?

The land classification for Mettis is Residential Class I Type - I.

Where is the Sub Registrar Office for Mettis located?

The Sub Registrar Office for Mettis is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000.