Guideline Value for Mettu Street (Kannada Paalayam)

Mettu Street (Kannada Paalayam) guideline value

The current guideline value of Mettu Street (Kannada Paalayam) is Rs 805 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Mettu Street (Kannada Paalayam) has changed

The guideline value for Mettu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 72%, bringing it back to Rs 805 per sq.ft. The 2023 revision maintained this value, and the current 2024 revision remains unchanged at Rs 805 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 15%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, which means Mettu Street's 2024 figure of Rs 805 per sq.ft is below this median.

• Mettu Street: Rs 805 per sq.ft (2024)
• M.G.R. Nagar: Rs 803 per sq.ft (2024)
• Masuthi Street: Rs 805 per sq.ft (2024)
• Manoharan Street: Rs 880 per sq.ft (2024)
• Mullai Nager: Rs 1,200 per sq.ft (2024)
• Mullai Nager Bakthavatchalam Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street (Kannada Paalayam)

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, totaling Rs 72,450. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Street (Kannada Paalayam)?

The Sub Registrar Office that covers Mettu Street (Kannada Paalayam) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kovilpathagai. It determines the minimum value at which properties are registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable taxes, which are based on the higher of the guideline value or the sale price. This ensures transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mettu Street (Kannada Paalayam)?

The current guideline value of Mettu Street (Kannada Paalayam) is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Class II Type - II, which indicates its use for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Mettu Street, the stamp duty is 7% of the guideline value.