Guideline Value for Mettu Colony

Mettu Colony guideline value

The current guideline value of Mettu Colony, located in Vayaloor village under the Sunguvarchattram SRO, is Rs 105 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Mettu Colony has changed

The guideline value for Mettu Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in the 2023 revision, and finally, it rose to Rs 105 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but it saw a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Vayaloor

In Vayaloor, there are 18 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 105 to Rs 155 per sq.ft. The median value is Rs 105 per sq.ft, which aligns with the current guideline value of Mettu Colony.

• Kulakarai Street: Rs 155 per sq.ft (2024)
• Kolla Colony: Rs 105 per sq.ft (2024)
• Palla Colony: Rs 105 per sq.ft (2024)
• Perumal Kovil Street: Rs 126 per sq.ft (2024)
• GP Nagar: Rs 155 per sq.ft (2024)
• School Street: Rs 155 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Colony

For a 1,000 sq.ft plot at the current rate of Rs 105 per sq.ft, the guideline value amounts to Rs 1,05,000. The stamp duty at 7% would be Rs 7,350, and the registration fee at 2% would be Rs 2,100, totaling Rs 9,450. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Colony?

The Mettu Colony area falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Vayaloor, the guideline value serves as a benchmark for determining the stamp duty and registration fees. This value is crucial for both buyers and sellers to understand the financial implications of property transactions.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Mettu Colony?

The current guideline value of Mettu Colony is Rs 105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 105 per sq.ft in 2024.

What is the classification of land in Mettu Colony?

Mettu Colony is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

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

The Sub Registrar Office covering Mettu Colony is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mettu Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,05,000, the stamp duty would be Rs 7,350 at a rate of 7%.