Guideline Value for Mettu Street

Mettu Street guideline value

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

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. The earliest recorded figure is from 2007 at Rs 300 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, this value dropped by 33% to Rs 1,675 per sq.ft in 2017. The next revision in 2023 set the value at Rs 2,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has further increased it to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no recorded figures for Mettu Street in the revisions of 2002 and 2003.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Mettu Street's value above this median.

• Maruthi Avenue: Rs 2,160 per sq.ft (2024)
• Mullai Nagar: Rs 2,160 per sq.ft (2024)
• Manimutharu Street: Rs 2,160 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,160 per sq.ft (2024)
• Muthuswamy Nagar: Rs 2,160 per sq.ft (2024)
• Mylarasu Nagar: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures that both the buyer and seller are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street 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 changed from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 817% over the years.

What is the median guideline value in Nemilicherry?

The median guideline value in Nemilicherry is Rs 2,160 per sq.ft, which is below the current value of Mettu Street.

What are the stamp duty and registration fees for Mettu Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registration for Mettu Street?

The Pallavaram Sub Registrar Office handles the property registration for Mettu Street, located in Chromepet, Chennai.