Guideline Value for Mettu Street

Mettu Street guideline value

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

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. In 2017, the value was Rs 134 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2023. However, the most recent revision in 2024 has brought the guideline value down to Rs 200 per sq.ft, marking a decrease of 33% from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 49%. The substantial rise from 2017 to 2023 was 124%, but the subsequent decrease in 2024 indicates a notable shift in the guideline value for this street.

Guideline values in Nemili_B

In Nemili_B village, there are 97 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 150 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 250 per sq.ft, which means Mettu Street's current value is below the median.

• Marthamman Koil Street: Rs 200 per sq.ft (2024)
• Marshal Share: Rs 300 per sq.ft (2024)
• Mookambigai Nagar: Rs 250 per sq.ft (2024)
• Murugan Koil Street: Rs 200 per sq.ft (2024)
• Manasa Devi Nagar: Rs 250 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 guideline value of Rs 200 per sq.ft, the total 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, making the total cost for these fees Rs 18,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Nemili_B

The guideline value plays a crucial role in the registration process of property transactions in Nemili_B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate applicable duties and fees. This value helps in assessing the financial obligations involved in the transaction, including stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

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 134 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then decreased to Rs 200 per sq.ft in 2024. This reflects a significant increase followed by a decrease.

What is the land classification of Mettu Street?

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

Where can I find the registration office for Mettu Street?

The registration office for Mettu Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mettu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 18,000 in fees, including stamp duty and registration fees.