Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Kunnam village is Rs 181 per sq.ft, effective from 1 July 2024. This property 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 2012, the value was set at Rs 200 per sq.ft. This figure decreased to Rs 134 per sq.ft in 2017, marking a decline of 33%. The value then increased to Rs 181 per sq.ft in both the 2023 and 2024 revisions, showing a 35% increase from the 2017 figure, but no change from 2023 to 2024.

It is important to note that the register has no figures for Mettu Street in the years 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, there has been a decrease of 10% in the guideline value.

Guideline values in Kunnam

Kunnam village has a total of 18 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 181 to Rs 660 per sq.ft. The median guideline value in this village is Rs 200 per sq.ft, placing Mettu Street's 2024 figure below that median.

• Manikandan Nagar: Rs 181 per sq.ft (2024)
• Nadu Street: Rs 181 per sq.ft (2024)
• Lakshmi nagar Extension: Rs 200 per sq.ft (2024)
• Lakshmi Nagar: Rs 200 per sq.ft (2024)
• New Colony: Rs 181 per sq.ft (2024)
• Kizhandai Street: 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 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty, calculated at 7%, would amount to Rs 12,670, while the registration fee at 2% would be Rs 3,620. Together, the total cost for stamp duty and registration fees would be Rs 16,290. 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 to estimate these costs for your property transactions.

Which Sub Registrar Office covers Mettu Street?

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

For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kunnam, as it determines the official value of the property for registration purposes. When buying or selling property, this value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is important for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mettu Street has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 181 per sq.ft in 2023 and 2024. Overall, there has been a 10% decrease from 2012 to 2024.

What is the land classification of Mettu Street?

Mettu Street is classified as Residential Class II Type - I, which is relevant for determining the guideline value and property usage.

Where can I find the Sub Registrar Office for Mettu Street?

The Sub Registrar Office for Mettu Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a plot valued at Rs 1,81,000, the stamp duty would be Rs 12,670 at a rate of 7%.