Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,200 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

In the 2012 revision, the guideline value for Mettu Street was recorded at Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making Mettu Street's 2024 figure below that median.

• Mettu Street (Munusamy Reddy Colony): Rs 2,700 per sq.ft (2024)
• Mettu Street (Venkateshwara Nagar): Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 4th Street: Rs 2,700 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 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There was no change in the value from 2012 to 2023.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft, which is higher than the current value of Mettu Street.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for Mettu Street?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Mettu Street.