Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Thirumullaivoyal village, under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

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 set at Rs 200 per sq.ft. This figure saw a significant increase to Rs 1,200 per sq.ft in 2012, marking a remarkable 500% rise. The value remained unchanged at Rs 1,200 per sq.ft until the 2023 revision, when it was raised to Rs 1,200 per sq.ft again. The most recent revision in 2024 has brought the guideline value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for Mettu Street in the revisions of 2002, 2003, and 2017. Overall, from 2007 to 2024, the guideline value has increased by 550%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which places Mettu Street's 2024 figure below that median.

• M.G.R. Nagar: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 4th Cross Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Nagar 5th Cross Street: Rs 2,400 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 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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 here.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the correct amount of duty is paid. It is essential for buyers and sellers to be aware of these values 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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 550% over the years.

What is the land classification for Mettu Street?

Mettu Street is classified under Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Mettu Street?

The stamp duty is calculated at 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

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

The Sub Registrar Office for 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.