Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Thirunageswaram village, under the Kunrathur SRO, is Rs 1,550 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen significant changes over the years. The earliest recorded value is from 2003, which was Rs 153 per sq.ft. This value increased to Rs 300 per sq.ft in 2007, marking a substantial rise of 96%. The value then surged to Rs 1,400 per sq.ft in 2012, reflecting an increase of 367%. However, it dropped to Rs 938 per sq.ft in 2017, a decrease of 33%. The value saw a substantial rise again to Rs 1,400 per sq.ft in 2023, and most recently, it increased to Rs 1,550 per sq.ft in 2024, which is an increase of 11%.

Overall, from 2003 to 2024, the guideline value has increased by 913%. It is important to note that there is no figure available for Mettu Street in the 2002 revision.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO, with guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,550 per sq.ft, which is equal to the current value of Mettu Street.

• M.G.R. Nagar Cheran Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Chozhan Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Elumalai Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Indhra Gandhi Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar pallavar Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Nagar Pillaiyar Koil Street: Rs 1,550 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 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total cost for these fees to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirunageswaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the property is valued correctly for legal and financial transactions. This helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 153 per sq.ft in 2003 to Rs 1,550 per sq.ft in 2024, with significant increases and a few decreases over the years.

What is the land classification for Mettu Street?

Mettu Street is classified as Residential Special Type - II under the current guidelines.

What is the registration office for Mettu Street?

The registration office for Mettu Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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, a property valued at Rs 15,50,000 would incur a stamp duty of Rs 1,08,500 at 7%.