Guideline Value for Mettu 5th Street

Mettu 5th Street guideline value

The current guideline value of Mettu 5th Street in Attanthangal village, under the Redhills SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Mettu 5th Street has changed

The guideline value for Mettu 5th Street has undergone several revisions since 2007. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, in 2017, the value saw a decrease to Rs 536 per sq.ft. The 2023 revision set the guideline value at Rs 800 per sq.ft, which was then raised to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 193%. The register does not have 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 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which is equal to the current value of Mettu 5th Street.

• Mettu 4th Street: Rs 880 per sq.ft (2024)
• Mettu 6th Street: Rs 880 per sq.ft (2024)
• Mettu 4th Cross Street: Rs 880 per sq.ft (2024)
• Mettu 7th Street: Rs 880 per sq.ft (2024)
• Mettu 3rd Street: Rs 880 per sq.ft (2024)
• Mettu 8th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu 5th 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 at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the 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 5th Street?

The Sub Registrar Office that covers Mettu 5th 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 determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, with the higher amount being used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mettu 5th Street?

The current guideline value of Mettu 5th 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, reflecting an overall increase of 193% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office handles registrations for Mettu 5th Street?

The Redhills Sub Registrar Office handles registrations for Mettu 5th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Mettu 5th Street?

Mettu 5th Street is classified as Residential Class I Type - I, indicating its designation for residential use.