Guideline Value for Mettu Street, Adam Nagar

Mettu Street, Adam Nagar guideline value

The current guideline value of Mettu Street, Adam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO and is classified as Commercial Class I Type - II.

How the guideline value of Mettu Street, Adam Nagar has changed

The guideline value for Mettu Street, Adam Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a rise of 49%. The most recent revision in 2024 further increased the guideline value to Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Mettu Street's guideline value of Rs 2,750 per sq.ft is above this median.

• M.G.R. Cross Street/Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar ,1st Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar ,3rd Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar ,4th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar , 5th Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street, Adam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 information.

Which Sub Registrar Office covers Mettu Street, Adam Nagar?

The Sub Registrar Office that covers Mettu Street, Adam Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Pammal, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for legal documentation.

It is crucial for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. Accurate knowledge of the guideline value ensures compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Mettu Street, Adam Nagar?

The current guideline value of Mettu Street, Adam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Mettu Street, Adam Nagar?

Mettu Street, Adam Nagar is classified as Commercial Class I Type - II under the current land classification system.

Where can I find the registration office for Mettu Street, Adam Nagar?

The registration office for Mettu Street, Adam Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Mettu Street, Adam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.