Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Venkadu 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

Over the years, the guideline value of Mettu Street has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 300 per sq.ft. The 2024 revision maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for Mettu Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 300 per sq.ft.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which aligns with the 2024 guideline value for Mettu Street.

• Nadu Stretet: Rs 300 per sq.ft (2024)
• Main Road: Rs 400 per sq.ft (2024)
• Lake View Avenue: Rs 310 per sq.ft (2024)
• Om Sakthi Sri Ellaiamman Nagar: Rs 400 per sq.ft (2024)
• Othavadai Street: Rs 310 per sq.ft (2024)
• Perumal Koil Street: 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 would be 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 more information, 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Venkadu. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises 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 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023 and 2024, showing no overall change from 2012 to 2024.

Are there any years without a guideline value for Mettu Street?

Yes, the guideline value register has no figures for Mettu Street in the years 2002, 2003, and 2007.

What is the stamp duty rate for property transactions in Mettu Street?

The stamp duty rate for property transactions in Mettu Street is 7% of the guideline value or the sale price, whichever is higher.

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.