Guideline Value for Mettu Colony

Mettu Colony guideline value

The current guideline value of Mettu Colony, located in Eraiyur village under the Sriperumpudur SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Mettu Colony has changed

The guideline value for Mettu Colony has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision recorded a lower value of Rs 67 per sq.ft, marking a decrease of 33% from the 2012 figure. From 2017 to 2023, the value increased significantly by 49% to reach Rs 100 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 100 per sq.ft, showing no change from the previous year. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. Mettu Colony's current guideline value is below this median.

• Mahalakshmi Nagar: Rs 200 per sq.ft (2024)
• Mahakavi Subramaniya Bharthi Nagar I: Rs 200 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Krishnammal Nagar: Rs 200 per sq.ft (2024)
• Pavalavannan @ Vidhaya Nagar: Rs 200 per sq.ft (2024)
• Petharya Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Colony?

The Sub Registrar Office that covers Mettu Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is crucial when buying or selling property in Eraiyur, as it determines the minimum price at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Mettu Colony?

The current guideline value of Mettu Colony is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft in the 2023 and 2024 revisions. It was Rs 67 per sq.ft in the 2017 revision, down from Rs 100 in 2012, marking a 33% decrease.

What is the land classification for Mettu Colony?

Mettu Colony falls under the Residential Class IV Type - I land classification. This classification is important for understanding the permissible uses of the land.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mettu Colony?

The Sub Registrar Office for Mettu Colony is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registration processes for properties in the area.