Guideline Value for Mettu 7th Street

Mettu 7th Street guideline value

The current guideline value of Mettu 7th Street in Attanthangal village under the Redhills SRO is Rs 880 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Mettu 7th Street has changed

The guideline value for Mettu 7th Street has seen 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, this figure then decreased to Rs 536 per sq.ft in 2017. The value rose significantly to Rs 800 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 880 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2007 to 2012, the value increased by 167%, but then it decreased by 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023. The current value of Rs 880 per sq.ft represents a total increase of 193% from the 2007 figure.

Guideline values in Attanthangal

In Attanthangal village, 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 across these streets is Rs 880 per sq.ft, which is the same as the guideline value for Mettu 7th Street.

• Mettu 6th Street: Rs 880 per sq.ft (2024)
• Mettu 8th Street: Rs 880 per sq.ft (2024)
• Mettu 5th Street: Rs 880 per sq.ft (2024)
• Mettu 9th Street: Rs 880 per sq.ft (2024)
• Mettu 4th Street: Rs 880 per sq.ft (2024)
• Mettu 4th Cross Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. This brings the total cost for these fees to Rs 79,200. It's 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 information.

Which Sub Registrar Office covers Mettu 7th Street?

The Sub Registrar Office that covers Mettu 7th 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Attanthangal. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the sale price and the guideline value are compared, and the higher amount is used to determine the applicable duties. This ensures that the registration process reflects the true value of the property, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Mettu 7th Street?

The current guideline value of Mettu 7th 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 the years.

What are the stamp duty and registration fees for property in Mettu 7th Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200 based on the current guideline value.

Which Sub Registrar Office is responsible for Mettu 7th Street?

The Redhills Sub Registrar Office is responsible for Mettu 7th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Mettu 7th Street?

Mettu 7th Street is classified as Residential Class I Type - I, indicating its designation for residential use.