Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Kovilpathagai village, under the Ambattur SRO, is Rs 805 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 72%, bringing it to Rs 805 per sq.ft. The 2023 revision maintained this value, and the same Rs 805 per sq.ft is set for the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Mettu Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 15%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Mettu Street's 2024 guideline value is below this median.

• Mettu Street (Kannada Paalayam): Rs 805 per sq.ft (2024)
• M.G.R. Nagar: Rs 803 per sq.ft (2024)
• Masuthi Street: Rs 805 per sq.ft (2024)
• Manoharan Street: Rs 880 per sq.ft (2024)
• Mullai Nager: Rs 1,200 per sq.ft (2024)
• Mullai Nager Bakthavatchalam Street: Rs 1,200 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 805 per sq.ft, the guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, bringing the total to Rs 72,450. It is important to note that 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 details.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Kovilpathagai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 805 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mettu Street has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has increased by 15%.

What is the stamp duty for property in Mettu Street?

The stamp duty for property in Mettu Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 56,350.

Which office handles property registration for Mettu Street?

The Ambattur Sub Registrar Office handles property registration for Mettu Street. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Mettu Street?

The land classification for Mettu Street is Residential Class II Type - II, which indicates the type of residential development permitted in this area.