Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street is Rs 250 per sq.ft. This street is located in Santhavellur_C village, under the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, and 2012. The 2017 revision set the value at Rs 167 per sq.ft, which increased by 50% to Rs 250 per sq.ft in the 2023 revision. The 2024 revision maintained the value at Rs 250 per sq.ft, showing no change from the previous year.

From the 2017 revision to the 2024 revision, the overall increase in the guideline value is 50%. This consistency in the last two revisions indicates stability in the valuation for Mettu Street.

Guideline values in Santhavellur_C

In Santhavellur_C, there are 52 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft, with a median value of Rs 350 per sq.ft. Mettu Street's 2024 guideline value is below this median.

• Maruthi Avenue: Rs 700 per sq.ft (2024)
• Moogambika Nagar: Rs 300 per sq.ft (2024)
• mother Therasa Nagar: Rs 300 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Lucky Land: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu Street

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value is Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the 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, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Santhavellur_C. It is used to determine the stamp duty and registration fees, which are mandatory costs incurred during the buying or selling process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since the 2023 revision, which also had the same value. The 2017 revision was Rs 167 per sq.ft, reflecting a 50% increase to the current value.

What is the land classification for Mettu Street?

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

Where can I find the registration office for Mettu Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value is Rs 2,50,000, leading to specific stamp duty and registration fees as detailed above.