Guideline Value for Mettu Kalani

Mettu Kalani guideline value

The current guideline value of Mettu Kalani is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mettu Kalani has changed

Over the years, the guideline value of Mettu Kalani has experienced several revisions. The 2007 revision set the value at Rs 50 per sq.ft, which significantly increased to Rs 700 per sq.ft in the 2012 revision. However, there was a decline in the 2017 revision, bringing it down to Rs 469 per sq.ft. The value then rose to Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Examining the changes, the guideline value increased by 1300% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1300%.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 800 per sq.ft, placing Mettu Kalani's 2024 figure below this median.

• Mettu Street: Rs 1,000 per sq.ft (2024)
• M.G.R. Nagar: Rs 700 per sq.ft (2024)
• Midhuan Garden: Rs 300 per sq.ft (2024)
• Mishin School Street: Rs 1,500 per sq.ft (2024)
• M.P.Nagar: Rs 700 per sq.ft (2024)
• Mannan Gudisai 3rd Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Kalani

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Kalani?

The Sub Registrar Office that covers Mettu Kalani is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Uthiramerur. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall costs associated with property registration. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Mettu Kalani?

The current guideline value of Mettu Kalani is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 50 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, and it has remained at Rs 700 per sq.ft since 2023.

What is the land classification of Mettu Kalani?

Mettu Kalani is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Mettu Kalani?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles property registrations for Mettu Kalani?

The Uthiramerur Sub Registrar Office handles property registrations for Mettu Kalani, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.