Guideline Value for Mettu 8th Street

Mettu 8th Street guideline value

The current guideline value of Mettu 8th Street in Attanthangal village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Mettu 8th Street has changed

Over the years, the guideline value of Mettu 8th Street has seen significant changes. In the 2007 revision, the value was Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 536 per sq.ft. The value then rose to Rs 800 per sq.ft in the 2023 revision, and currently stands at Rs 880 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In total, from the 2007 revision to the current 2024 figure, the guideline value has increased by 193%. Notably, 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 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, with the median being Rs 880 per sq.ft. Mettu 8th Street's 2024 figure aligns with this median.

• Mettu 7th Street: Rs 880 per sq.ft (2024)
• Mettu 9th Street: Rs 880 per sq.ft (2024)
• Mettu 6th Street: Rs 880 per sq.ft (2024)
• Mettu 5th 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 8th 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 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 further calculations.

Which Sub Registrar Office covers Mettu 8th Street?

Mettu 8th Street is covered by 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 when buying or selling property in Attanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

During property transactions, the guideline value helps in assessing the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being bought or sold.

Frequently asked questions

What is the current guideline value of Mettu 8th Street?

The current guideline value of Mettu 8th 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 a total increase of 193% over this period.

What is the land classification for Mettu 8th Street?

Mettu 8th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Mettu 8th Street?

The Redhills Sub Registrar Office covers Mettu 8th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Mettu 8th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000, leading to a stamp duty of Rs 61,600.