Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Echur_B village is Rs 200 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 2017 revision, the value was set at Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 200 per sq.ft. The most recent revision in 2024 maintains this value at Rs 200 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a total increase of 49%, reflecting the same value of Rs 200 per sq.ft in both 2023 and 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Echur_B

In Echur_B, there are 26 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 300 per sq.ft, with a median value of Rs 150 per sq.ft. Mettu Street's 2024 figure of Rs 200 per sq.ft is above this median.

• Mettu Street in Cross Street: Rs 150 per sq.ft (2024)
• Mantheivelliamman Kovil Streer: Rs 150 per sq.ft (2024)
• Natham Kuppam Colony: Rs 150 per sq.ft (2024)
• Lakshmi Priya Farm Lands: Rs 150 per sq.ft (2024)
• Kurukku Street: Rs 150 per sq.ft (2024)
• Pallikooda 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Street?

The Mettu Street falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Echur_B. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value must be considered during registration to ensure compliance with local regulations.

When a property is registered, the guideline value serves as a benchmark for the transaction. Buyers and sellers should be aware of this value as it directly impacts the costs associated with property transfer, including the stamp duty and registration fees that are calculated 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 increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What is the land classification of Mettu Street?

Mettu Street is classified as Residential Class II Type - I under the Sunguvarchattram SRO.

What are the other streets in Echur_B with their guideline values?

Other streets in Echur_B include Mettu Street in Cross Street, Mantheivelliamman Kovil Streer, Natham Kuppam Colony, Lakshmi Priya Farm Lands, Kurukku Street, and Pallikooda Street, all valued at Rs 150 per sq.ft in 2024.

How is the stamp duty calculated for property in Mettu Street?

The stamp duty for property in Mettu Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 14,000 based on the current guideline value.