Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Ayanavaram village, under the AnnaNagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Mettu Street has changed

Over the years, the guideline value of Mettu Street has seen significant changes. Starting from the 2002 revision, the value was Rs 504 per sq.ft. It increased to Rs 1,200 per sq.ft in 2007, marking a substantial rise of 138%. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, a drop of 33%. However, in 2017, the value rose again to Rs 3,350 per sq.ft, followed by a significant increase to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figure for this street in 2003.

Overall, from 2002 to 2024, the guideline value has increased by 991%. The changes reflect a complex history of fluctuations in the guideline value, with notable increases and a few decreases along the way.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft as of 2024. The median value for these streets is Rs 4,900 per sq.ft, placing Mettu Street's 2024 guideline value above this median.

• Mettu Street Lane: Rs 3,800 per sq.ft (2024)
• M.G.R. Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• M.G.R. Street, Chennai 82 (Venkatesa Nagar): Rs 4,400 per sq.ft (2024)
• Medavakkam Tank Road: Rs 6,600 per sq.ft (2024)
• M Block 9th Street: Rs 11,000 per sq.ft (2024)
• M Block 10 Street: Rs 11,000 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important 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 Sub Registrar Office that covers Mettu Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayanavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the government receives the appropriate revenue based on the established values for properties in the area.

During the registration process, the buyer must pay stamp duty calculated on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for anyone looking to engage in property transactions in Ayanavaram.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Mettu Street has changed significantly, from Rs 504 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 991% over this period.

What is the land classification for Mettu Street?

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

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

The Sub Registrar Office for Mettu Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property in Mettu Street?

Stamp duty for property in Mettu Street 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 would incur a total stamp duty of Rs 3,85,000.