Guideline Value for Mettu Street (Lakshmiamman Nagar)

Mettu Street (Lakshmiamman Nagar) guideline value

The current guideline value of Mettu Street (Lakshmiamman Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Mettu Street (Lakshmiamman Nagar) has changed

The guideline value for Mettu Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 300%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Mettu Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Mettu Street.

• Mettu Street: Rs 2,200 per sq.ft (2024)
• M.G.R. Avenue (Banu Nagar): Rs 2,200 per sq.ft (2024)
• M.G.R. Street (A.K.A. Nagar): Rs 1,600 per sq.ft (2024)
• M.G.R.Street (Gandhi Nagar Part): Rs 1,800 per sq.ft (2024)
• Meenambal Sivaraj Street: Rs 1,900 per sq.ft (2024)
• M.G.R. Street (Pudur): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street (Lakshmiamman Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mettu Street (Lakshmiamman Nagar)?

The Sub Registrar Office that covers Mettu Street (Lakshmiamman Nagar) 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 Oragadam

The guideline value plays a crucial role during the registration of property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring transparency in the registration process.

Frequently asked questions

What is the current guideline value of Mettu Street (Lakshmiamman Nagar)?

The current guideline value of Mettu Street (Lakshmiamman Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles property registration for Mettu Street?

The Ambattur Sub Registrar Office handles property registration for Mettu Street (Lakshmiamman Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Mettu Street (Lakshmiamman Nagar)?

The land classification for Mettu Street (Lakshmiamman Nagar) is Residential Special Type - II, indicating its designated use for residential purposes.