Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Vallam village, under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III 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 register shows no figures for the years 2002, 2003, and 2007. In the 2012 revision, the value was set at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 200 per sq.ft, marking no change from the previous year. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,950 per sq.ft. The median value across these streets is Rs 200 per sq.ft, which is equal to the guideline value of Mettu Street.

• Mariyamman Koil Street: Rs 200 per sq.ft (2024)
• Muthamil Nagar: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 200 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Little Farms: Rs 200 per sq.ft (2024)
• Kumaran Nagar: 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, bringing the total fees 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.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

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 Vallam

The guideline value is an essential factor in the registration process of property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value is compared against the sale price to determine the applicable fees. If the sale price is higher than the guideline value, the fees will be calculated based on the sale price instead.

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 for Mettu Street has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft, unchanged from 2023. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification for Mettu Street?

Mettu Street is classified under Residential Class III Type - I, which indicates its designation for residential purposes within the area.

Where is the Sriperumpudur Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value is Rs 2,00,000, leading to specific fees based on that amount.