Guideline Value for Mettu Street 1st Street

Mettu Street 1st Street guideline value

The current guideline value of Mettu Street 1st Street in Thiruneermalai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Mettu Street 1st Street has changed

Over the years, the guideline value of Mettu Street 1st Street has seen significant changes. In 2003, the guideline value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a 12% rise. The value then surged to Rs 1,340 per sq.ft in 2017, reflecting a substantial increase of 283%. The 2023 revision set the value at Rs 2,000 per sq.ft, a 49% increase from the previous revision. The most recent revision in 2024 has further increased the value to Rs 2,200 per sq.ft, which is a 10% rise from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2012 for Mettu Street 1st Street. Overall, from 2003 to 2024, the guideline value has increased by 605%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are a total of 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, positioning Mettu Street 1st Street below this median value.

• Mettu Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Mettu Street: Rs 2,200 per sq.ft (2024)
• M.G.R Street: Rs 1,320 per sq.ft (2024)
• Meenakshi Nagar: Rs 2,200 per sq.ft (2024)
• Muniappan Street: Rs 2,200 per sq.ft (2024)
• Muniyapillai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street 1st Street

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

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mettu Street 1st Street?

The Mettu Street 1st Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Thiruneermalai, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Mettu Street 1st Street?

The current guideline value of Mettu Street 1st Street 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 increased from Rs 312 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 605% over the years.

What is the land classification for Mettu Street 1st Street?

Mettu Street 1st Street is classified as Residential Class I Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,98,000.