Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Molachoor village is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class IV Type - II.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. In the 2007 revision, the value was Rs 60 per sq.ft, which increased significantly to Rs 300 per sq.ft in the 2012 revision, marking a 400% increase. However, in the 2017 revision, the value decreased to Rs 201 per sq.ft, reflecting a 33% drop. The value then rose to Rs 300 per sq.ft in the 2023 revision and remained unchanged in the 2024 revision, resulting in a 49% increase from the 2017 figure.

It is important to note that there are no figures available for Mettu Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 400%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, indicating that Mettu Street's 2024 guideline value is below this median.

• Matthamman Kovil Street: Rs 700 per sq.ft (2024)
• Mookambigai Nagar I & II: Rs 300 per sq.ft (2024)
• Mariya Puram: Rs 600 per sq.ft (2024)
• Mariamman Kovil Street: Rs 300 per sq.ft (2024)
• Lucky Land: Rs 605 per sq.ft (2024)
• Loordu Nagar: Rs 605 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 amounts to 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, making the total fees 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Molachoor. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is used to assess the applicable duties, which are charged based on the higher of the guideline value or the sale price. This ensures that the registration process is standardized and transparent.

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 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and returned to Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Molachoor?

The median guideline value for the 112 streets in Molachoor is Rs 600 per sq.ft, with Mettu Street's value being below this median.

What are the stamp duty and registration fees for Mettu Street?

For a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 27,000, which includes stamp duty and registration fees based on the guideline value.

Which office handles the registration for Mettu Street?

The Sunguvarchattram Sub Registrar Office handles the registration for Mettu Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.