Guideline Value for Mettu Street

Mettu Street guideline value

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

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. In 2002, the value was Rs 113 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a significant rise of 190%. The value then jumped to Rs 1,200 per sq.ft in 2012, reflecting a remarkable increase of 266%. However, it decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value remained at Rs 1,200 per sq.ft from 2017 to 2023, showing no change. As of the 2024 revision, the guideline value is still Rs 1,200 per sq.ft, indicating no change from the previous year.

It is important to note that the register has no figure for Mettu Street in 2003. Overall, from 2002 to 2024, the guideline value has increased by 962%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Mettu Street's 2024 figure below that median.

• M.G. Nagar Part-IA: Rs 1,500 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,500 per sq.ft (2024)
• Meenakshi Avenue: Rs 1,500 per sq.ft (2024)
• MasoothiStreet: Rs 1,500 per sq.ft (2024)
• Maruthi Nagar: Rs 1,500 per sq.ft (2024)
• M.S.M. Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay. The guideline value is set by the government and is periodically revised based on various factors.

When a property is bought or sold, the guideline value is compared with the actual sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Mettu Street?

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

How has the guideline value changed over the years?

The guideline value for Mettu Street has undergone several revisions, with the most significant increase occurring from Rs 113 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2012, followed by a decrease to Rs 804 per sq.ft in 2017.

What is the median guideline value in Nandhivaram?

The median guideline value for the 169 streets in Nandhivaram is Rs 1,500 per sq.ft, which is higher than the current guideline value of Mettu Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 12,00,000, the total fees would amount to Rs 1,08,000.

Where can I find the Sub Registrar Office for Mettu Street?

The Gooduvancheri Sub Registrar Office covers Mettu Street and is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.