Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Chennerkuppam village, under the Kunrathur SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II 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 Rs 450 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 167% rise. However, this value decreased to Rs 804 per sq.ft in 2017, reflecting a 33% drop. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by another rise to the current value of Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Mettu Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Mettu Street's 2024 figure below this median.

• Masilamani Nagar: Rs 1,320 per sq.ft (2024)
• M.M. Koil Street (a) Mariamman Koil Street: Rs 1,540 per sq.ft (2024)
• Mariamman koil Street: Rs 1,540 per sq.ft (2024)
• M.R. Avenue: Rs 1,540 per sq.ft (2024)
• Magizam Avenue: Rs 1,430 per sq.ft (2024)
• Leelavathi Nagar: Rs 1,430 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chennerkuppam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is set by the Registration Department and reflects the value of land in a particular area.

When registering a property, the guideline value helps ensure that the transaction is recorded at a value that is reflective of the current market conditions. This value is essential for legal purposes and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

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 example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.