Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Oragadam village under the Ambattur SRO is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - II.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from 2023.

The register has no figure for Mettu Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Mettu Street.

• Mettu Street (Lakshmiamman Nagar): Rs 2,200 per sq.ft (2024)
• M.G.R. Avenue (Banu Nagar): Rs 2,200 per sq.ft (2024)
• Meenambal Sivaraj Street: Rs 1,900 per sq.ft (2024)
• M.G.R. Street (A.K.A. Nagar): Rs 1,600 per sq.ft (2024)
• M.G.R.Street (Gandhi Nagar Part): Rs 1,800 per sq.ft (2024)
• M.G.R. Street(Pudur): Rs 1,900 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

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

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

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Mettu Street?

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

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the 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 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 22,00,000, which is used to calculate the stamp duty and registration fees.