Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Thirumangalam 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 II Type - I.

How the guideline value of Mettu Street has changed

Over the years, the guideline value of Mettu Street has undergone several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 300 per sq.ft. The 2017 revision saw an increase to Rs 201 per sq.ft, marking a significant change of +49% from the 2017 figure to 2023. However, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of -33%. Overall, comparing the 2012 figure to the current 2024 figure, there has been no change, as both are Rs 300 per sq.ft. The guideline value has remained stable over the last decade, reflecting a consistent valuation for Mettu Street.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median value among these streets is Rs 605 per sq.ft, placing Mettu Street's guideline value below this median.

• Moogambiga Nagar: Rs 605 per sq.ft (2024)
• Malai Matha Nagar: Rs 605 per sq.ft (2024)
• Naidu Street: Rs 250 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Kuravar Street: Rs 605 per sq.ft (2024)
• Om 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, charged at 7%, would be Rs 21,000, and the registration fee, charged at 2%, would be Rs 6,000, bringing the total fees to 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 details, 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set forth by the Registration Department.

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 remained stable at Rs 300 per sq.ft from 2012 to 2024, with a previous decrease of -33% from 2012 to 2017 and an increase of +49% from 2017 to 2023.

What is the classification of Mettu Street?

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

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 Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is 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, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 21,000.