Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Vaipoor village, under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II 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 remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, by the 2023 revision, the value returned to Rs 250 per sq.ft, reflecting a 50% increase from the 2017 figure. The 2024 revision maintains this value at Rs 250 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for Mettu Street in the 2002, 2003, and 2007 revisions. Overall, from 2012 to 2024, the guideline value has remained stable, with a total change of 0% during this period.

Guideline values in Vaipoor

In Vaipoor village, there are 9 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 300 per sq.ft. The median value is Rs 250 per sq.ft, which is equal to the 2024 figure for Mettu Street.

• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• Mahakavi Bharathiyar Nagar Stage I & II: Rs 300 per sq.ft (2024)
• Perumal Kovil Street: Rs 250 per sq.ft (2024)
• Ragallamman Kovil Street: Rs 250 per sq.ft (2024)
• Gangaiamman kovil Street: Rs 250 per sq.ft (2024)
• Eswaran Koil Street: Rs 250 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 fees to Rs 22,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu Street?

The Mettu Street falls under the jurisdiction of 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 Vaipoor

The guideline value is a crucial factor when registering property transactions in Vaipoor. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, which are essential for the legal transfer of ownership. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 seen several revisions, with the most recent being Rs 250 per sq.ft in 2023 and 2024. It was Rs 167 per sq.ft in 2017, and Rs 250 per sq.ft in 2012.

What is the land classification for Mettu Street?

The land classification for Mettu Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Mettu Street?

The Sub Registrar Office covering 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 a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 17,500.