Guideline Value for Mettu Street

Mettu Street guideline value

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

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 200 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft, marking a drop of 33%. The 2023 revision then raised the value to Rs 100 per sq.ft, a further decrease of 25% from the previous figure. The most recent revision in 2024 has increased the guideline value to Rs 200 per sq.ft, reflecting a significant increase of 100% from 2023.

It is important to note that there are no figures available for Mettu Street in the revisions from 2002, 2003, and 2007. Overall, the guideline value from 2012 to 2024 has remained the same at Rs 200 per sq.ft, indicating no net change over this period.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 200 to Rs 2,400 per sq.ft. The median guideline value in this area is Rs 400 per sq.ft, placing Mettu Street's 2024 figure below that median.

• Mevaloorkuppam Nedunsalai: Rs 400 per sq.ft (2024)
• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)
• Mekkar Street: Rs 300 per sq.ft (2024)
• Moorthiyar Nagar: Rs 200 per sq.ft (2024)
• Manthoppu Street: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 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 rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers 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 Mevaloorkuppam

The guideline value is a crucial factor during the registration of property transactions in Mevaloorkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid potential disputes.

Frequently asked questions

What is the current guideline value of Mettu Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally back to Rs 200 per sq.ft in 2024.

Are there any revisions with no figures for Mettu Street?

Yes, the revisions for the years 2002, 2003, and 2007 have no figures available for Mettu Street.

What is the stamp duty for properties in Mettu Street?

The stamp duty for properties in Mettu Street is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 2,00,000, the stamp duty would be Rs 14,000.

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.