Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Katrampakkam B village, under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft, which remained unchanged at Rs 300 per sq.ft in the 2023 revision. The latest revision in 2024 also maintains this figure of Rs 300 per sq.ft, indicating no change from the previous year. The register has no figures for this street for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the value also reflects a 49% increase, confirming the stability in the recent revisions.

Guideline values in Katrampakkam B

Katrampakkam B village has a total of 44 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 275 per sq.ft. Mettu Street's 2024 guideline value of Rs 300 per sq.ft is above this 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 amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office covering Mettu Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Katrampakkam B. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider the guideline value to ensure compliance with the registration requirements.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mettu Street has remained at Rs 300 per sq.ft from 2023 to 2024, with a 49% increase from Rs 201 per sq.ft in 2017. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

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

For a property 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. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Mettu Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in the area.