Guideline Value for Mettu Street (Venkateshwara Nagar)

Mettu Street (Venkateshwara Nagar) guideline value

The current guideline value of Mettu Street (Venkateshwara Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

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

The guideline value for Mettu Street (Venkateshwara Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Mettu Street (Venkateshwara Nagar).

• Mettu Street (Munusamy Reddy Colony): Rs 2,700 per sq.ft (2024)
• Mettu Street: Rs 2,200 per sq.ft (2024)
• M.G.R. Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 4th Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Mettu Street (Venkateshwara Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

When buying or selling property in Kodungaiyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value set by the Registration Department, which is updated periodically.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value serves as a benchmark for property transactions in the area.

Frequently asked questions

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

The current guideline value of Mettu Street (Venkateshwara Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023, and then increased to Rs 2,700 per sq.ft in 2024, resulting in an overall increase of 8% from 2012 to 2024.

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

The land classification for Mettu Street (Venkateshwara Nagar) is Residential Class I Type - I.

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

For a 1,000 sq.ft plot at the guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

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

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Mettu Street (Venkateshwara Nagar).