Guideline Value for Mettu 14th Street

Mettu 14th Street guideline value

The current guideline value of Mettu 14th Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Attanthangal village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mettu 14th Street has changed

The guideline value for Mettu 14th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, in 2017, the value decreased to Rs 536 per sq.ft. The most recent revisions show a significant increase, with the 2023 revision at Rs 800 per sq.ft, followed by the current 2024 revision at Rs 880 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 880 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is the same as the current guideline value for Mettu 14th Street.

• Mettu 13th Street: Rs 880 per sq.ft (2024)
• Mettu 15th Street: Rs 880 per sq.ft (2024)
• Mettu 12th Street: Rs 880 per sq.ft (2024)
• Mettu 16th Street: Rs 880 per sq.ft (2024)
• Mettu 11th Street: Rs 880 per sq.ft (2024)
• Mettu 17th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, making the total fees together Rs 79,200. 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 more details.

Which Sub Registrar Office covers Mettu 14th Street?

The Sub Registrar Office that covers Mettu 14th Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Attanthangal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official valuation of the property.

When a property is sold, the guideline value helps determine the legal obligations for both parties. It is essential to understand that the guideline value may differ from the actual sale price, but the duty is charged on the higher of the two.

Frequently asked questions

What is the current guideline value of Mettu 14th Street?

The current guideline value of Mettu 14th Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing an overall increase of 193% over the years.

What are the stamp duty and registration fees for property in Mettu 14th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 79,200.

Which Sub Registrar Office covers Mettu 14th Street?

The Redhills Sub Registrar Office covers Mettu 14th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Mettu 14th Street?

Mettu 14th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.