Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Mambakkam village is Rs 305 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen significant changes over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 200 per sq.ft, which increased to Rs 305 per sq.ft in the 2024 revision, marking a change of +53%.

This increase reflects the current valuation trends in the area, aligning with the overall adjustments made in the guideline values for Mambakkam. The 2024 figure of Rs 305 per sq.ft is equal to the median value for the 39 streets in Mambakkam under the Sunguvarchattram SRO.

Guideline values in Mambakkam

In Mambakkam, the guideline values for various streets range from Rs 200 to Rs 1,418 per sq.ft, with the median being Rs 305 per sq.ft. Mettu Street's 2024 figure aligns with this median. Below are other streets in Mambakkam and their respective guideline values:

• M.B.C Street: Rs 305 per sq.ft (2024)
• Muthumariamman Kovil Street: Rs 305 per sq.ft (2024)
• Naddu Street: Rs 275 per sq.ft (2024)
• Main Road: Rs 505 per sq.ft (2024)
• Mahalakshmi Farms: Rs 505 per sq.ft (2024)
• Narayana Nagar: Rs 505 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 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, leading to a total of Rs 27,450. It is important to 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 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Mambakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. As such, buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is considered along with the sale price to determine the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's valuation.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 305 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value for Mettu Street increased from Rs 200 per sq.ft in 2023 to Rs 305 per sq.ft in 2024, representing a change of +53%.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Class I Type - I, indicating its use for residential purposes.

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 Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 305 per sq.ft, the total stamp duty would be Rs 21,350.