Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Katrampakkam village is Rs 300 per sq.ft, effective from the 2024 revision. This street falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Mettu Street has changed

Looking at the revisions, the 2012 guideline value for Mettu Street was Rs 300 per sq.ft. In the following revision in 2017, the value decreased to Rs 201 per sq.ft, marking a change of -33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 300 per sq.ft. The most recent revision in 2024 maintains this value at Rs 300 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for Mettu Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft.

Guideline values in Katrampakkam

In Katrampakkam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which means Mettu Street's 2024 figure is above that median.

• M.G.R Street: Rs 150 per sq.ft (2024)
• Mariyamman Koil Street: Rs 300 per sq.ft (2024)
• Naari Kazhani Street: Rs 150 per sq.ft (2024)
• Lakshmi Nagar Annex: Rs 250 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• New Bank of India Colony: Rs 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000. Together, the total cost for stamp duty and registration fee would be Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Street?

The Mettu Street falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in Katrampakkam.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

From 2012 to 2017, the guideline value decreased from Rs 300 to Rs 201 per sq.ft. It then increased to Rs 300 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

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

For a 1,000 sq.ft plot valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which Sub Registrar Office manages Mettu Street?

The Sriperumpudur Sub Registrar Office manages Mettu Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.