Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Periyapalayam village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Arani_Tiruvallur 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 undergone several revisions over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012. The value then decreased to Rs 134 per sq.ft in 2017, before rising back to Rs 200 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while there was a significant decrease of 33% from 2012 to 2017. The 2007 to 2012 revision saw a 100% increase. Overall, from 2007 to 2024, the guideline value has doubled, reflecting a 100% increase.

Guideline values in Periyapalayam

In Periyapalayam village, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 160 to Rs 600 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the current guideline value of Mettu Street.

• M.G.R.Nagar: Rs 300 per sq.ft (2024)
• MA.PO.C.Nagar: Rs 160 per sq.ft (2024)
• Magakavi Bharathi Nagar: Rs 600 per sq.ft (2024)
• Madha Koil Street: Rs 160 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 250 per sq.ft (2024)
• Nethaji Nagar: Rs 200 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 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. Please 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 Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Periyapalayam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is considered alongside the sale price, and the higher of the two amounts is used to calculate the applicable 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 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 100 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Periyapalayam?

Other streets in Periyapalayam include M.G.R.Nagar, MA.PO.C.Nagar, Magakavi Bharathi Nagar, Madha Koil Street, Lakshmi Amman Nagar, and Nethaji Nagar, with varying guideline values.

Where is the Sub Registrar Office located?

The Sub Registrar Office for Mettu Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai 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, for a plot valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.