Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Thiruneermalai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen significant changes over the years. In 2002, the guideline value was Rs 221 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, marking a substantial rise of 506%. The value further increased to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 10% from 2023.

It is important to note that there are no figures available for Mettu Street in the revisions for the years 2003, 2007, and 2012. Overall, from 2002 to 2024, the guideline value has increased by 895%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this village is Rs 2,420 per sq.ft, placing Mettu Street's current value below that median.

• Mettu Street 1st Street: Rs 2,200 per sq.ft (2024)
• Mettu Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Meenakshi Nagar: Rs 2,200 per sq.ft (2024)
• M.G.R Street: Rs 1,320 per sq.ft (2024)
• Mani Street: Rs 2,420 per sq.ft (2024)
• Muniappan Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Mettu Street?

Mettu Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is used to calculate the fees, ensuring that the transaction is in compliance with the local regulations. It is essential for buyers and sellers to be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 221 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, an overall increase of 895%.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft, which is higher than the current value of Mettu Street.

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

For a 1,000 sq.ft plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Mettu Street?

The Pammal Sub Registrar Office handles property registrations for Mettu Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.