Guideline Value for Mettu Street 2nd Lane

Mettu Street 2nd Lane guideline value

The current guideline value of Mettu Street 2nd Lane in Puzhal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Mettu Street 2nd Lane has changed

The guideline value for Mettu Street 2nd Lane has seen several revisions over the years. The earliest recorded value is from 2007, set at Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and finally reached Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2007 to 2024, the overall increase in guideline value is 313%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street in the register.

Guideline values in Puzhal

In Puzhal, there are a total of 270 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. Mettu Street 2nd Lane's current guideline value of Rs 1,650 per sq.ft is above this median.

• Mettu Street 2nd Street: Rs 1,650 per sq.ft (2024)
• Mettu Street First Street: Rs 1,650 per sq.ft (2024)
• Mettu Street Main Street: Rs 1,650 per sq.ft (2024)
• Mettu Street: Rs 1,650 per sq.ft (2024)
• Mettu 2nd Street: Rs 1,650 per sq.ft (2024)
• Mercy Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Street 2nd Lane?

The Mettu Street 2nd Lane falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair valuation. Buyers and sellers should be aware of the current guideline value to accurately assess the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mettu Street 2nd Lane?

The current guideline value of Mettu Street 2nd Lane is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the registration office for Mettu Street 2nd Lane?

The registration office for Mettu Street 2nd Lane is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for property in Mettu Street 2nd Lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, resulting in a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.

What is the land classification of Mettu Street 2nd Lane?

Mettu Street 2nd Lane is classified as Residential Class I Type - I under the Redhills SRO.