Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Thirupanthiyoor village is Rs 250 per sq.ft, effective from 1 July 2024. This street falls 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. In the 2012 revision, the value was set at Rs 250 per sq.ft. This was followed by a decrease to Rs 167 per sq.ft in the 2017 revision, marking a 33% drop. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft. The current 2024 revision maintains this value at Rs 250 per sq.ft, reflecting no change from the previous year.

It is important to note that the register has no figures for Mettu Street in the years 2002, 2003, and 2007. Therefore, we only have the figures from the revisions in 2012, 2017, 2023, and 2024 to consider.

Guideline values in Thirupanthiyoor

In Thirupanthiyoor, there are 53 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 900 per sq.ft, with a median value of Rs 350 per sq.ft. Mettu Street's 2024 guideline value is below this median.

• Melandai Street: Rs 250 per sq.ft (2024)
• MathaKovil Street: Rs 400 per sq.ft (2024)
• Naddu street: Rs 400 per sq.ft (2024)
• Narayana Nagar Phase-II: Rs 350 per sq.ft (2024)
• Madha nagar: Rs 450 per sq.ft (2024)
• Lourdhu Nagar: Rs 350 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 250 per sq.ft, the total guideline value amounts to 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 cost for these fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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. To find your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thirupanthiyoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

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 changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023, and remains at Rs 250 per sq.ft in 2024.

What is the land classification for Mettu Street?

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

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 stamp duty calculated for properties in Mettu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 2,50,000 would incur a stamp duty of Rs 17,500 at 7%.