Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street, located in the 2nd Division village under the Kanchipuram Joint IV SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft. This value remained unchanged until 2017, when it decreased to Rs 2,010 per sq.ft. Following this, the value saw a significant increase, reaching Rs 3,000 per sq.ft in 2023, and then rising to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for Mettu Street in the years 2002, 2003, and 2007.

Guideline values in 2nd Division

In the 2nd Division village, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, positioning Mettu Street's 2024 figure above this median.

• Mathankeeswarar Koil Street: Rs 2,200 per sq.ft (2024)
• Masuthi Santhu: Rs 5,500 per sq.ft (2024)
• Manjal Neer Kalvai: Rs 1,650 per sq.ft (2024)
• Mullapalayam Street: Rs 1,100 per sq.ft (2024)
• Munusamy Mudaliar Avenue: Rs 4,400 per sq.ft (2024)
• Munusamy Mudaliar Avenue Backside: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value plays a crucial role in the registration process when buying or selling property in the 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with the regulations set by the registration authorities.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Mettu Street?

The land classification for Mettu Street is Residential Special Type - II.

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

The Sub Registrar Office for Mettu Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mettu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 at a rate of 7%.