Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Athivakkam village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram 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 seen several revisions over the years. In the 2012 revision, the value was Rs 150 per sq.ft. This remained unchanged in the 2017 revision, where the value was Rs 100 per sq.ft. The subsequent 2023 revision also maintained the value at Rs 150 per sq.ft. The 2024 revision again set the value at Rs 150 per sq.ft, reflecting no change from the previous year.

Looking at the changes between revisions, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 50%. Overall, from 2012 to 2024, the guideline value has remained the same.

Guideline values in Athivakkam

In Athivakkam village, there are five streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 200 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which is equal to the guideline value of Mettu Street.

• Pallvadi Street: Rs 150 per sq.ft (2024)
• Perumal Kovil Street: Rs 150 per sq.ft (2024)
• Green Farm House & Resorts: Rs 200 per sq.ft (2024)
• EriKarai Street: Rs 150 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 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Athivakkam. It serves as a benchmark for determining the value of the property for stamp duty calculations, ensuring that the registration fees are based on an official valuation rather than the sale price alone.

When registering a property, buyers and sellers must adhere to the guideline value to ensure compliance with local regulations. This helps maintain transparency in property transactions and provides a standardized approach to property valuation.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then back to Rs 150 per sq.ft in 2023 and 2024, resulting in a net change of 0% from 2012 to 2024.

What is the classification of land on Mettu Street?

Mettu Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Mettu Street located?

The Sub Registrar Office covering Mettu Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Athivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,50,000 would incur a stamp duty of Rs 10,500 at a rate of 7%.