Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Vellarai village is Rs 110 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 100 per sq.ft, and the most recent 2024 revision raised it further to Rs 110 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Vellarai

In Vellarai, there are 20 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. Mettu Street's current guideline value of Rs 110 per sq.ft is below this median.

• Manimozhi Nagar: Rs 200 per sq.ft (2024)
• Manavala Nagar: Rs 200 per sq.ft (2024)
• Madhurai Veeran Street: Rs 200 per sq.ft (2024)
• Pokkisham Nagar: Rs 300 per sq.ft (2024)
• Rajrukh Enclave: Rs 300 per sq.ft (2024)
• Royal Lands Co-op Maha Nagar Phase II: Rs 600 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 110 per sq.ft, the total guideline value amounts to Rs 1,10,000. The stamp duty at 7% would be Rs 7,700, and the registration fee at 2% would be Rs 2,200, bringing the total cost for these fees to Rs 9,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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 Vellarai

The guideline value is a critical factor in property transactions, as it determines the amount of stamp duty and registration fees payable during the registration process. When buying or selling property in Vellarai, the guideline value serves as a benchmark for assessing the transaction value.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall costs associated with property transactions. Accurate knowledge of the guideline value helps in ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 110 per sq.ft in 2024.

What is the land classification for Mettu Street?

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

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

For a property valued at Rs 1,10,000, the stamp duty would be Rs 7,700, and the registration fee would be Rs 2,200, totaling Rs 9,900 for these fees.

Which office handles the registration for properties in Mettu Street?

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