Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Padappai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Mettu Street has changed

The guideline value of Mettu Street has seen significant changes over the years. In 2003, the guideline value was Rs 70 per sq.ft. This increased to Rs 85 per sq.ft in 2007, marking a rise of 21%. The value then surged dramatically to Rs 1,200 per sq.ft in 2012, reflecting an increase of 1,312%. However, it decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, showing a 49% increase. Finally, the current value is Rs 1,320 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Mettu Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1,786%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, placing Mettu Street's 2024 figure above this median.

• M.P.R Nagar: Rs 990 per sq.ft (2024)
• Manish Nagar S.Nos.345/1b1, 1b2, 1b3: Rs 830 per sq.ft (2024)
• M.R.V.Nagar: Rs 830 per sq.ft (2024)
• Munusamy Nagar: Rs 830 per sq.ft (2024)
• Mal Raja Avenue: Rs 3,300 per sq.ft (2024)
• Murugathamman Nagar: Rs 830 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and fairness in property transactions, as it reflects the official value set by the Registration Department.

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 significantly, from Rs 70 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,786%.

What is the stamp duty for property in Mettu Street?

The stamp duty for property in Mettu Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mettu Street located?

The Sub Registrar Office for Mettu Street is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the guideline values of other streets in Padappai?

Other streets in Padappai have varying guideline values, ranging from Rs 440 to Rs 4,000 per sq.ft. For example, M.P.R Nagar has a guideline value of Rs 990 per sq.ft in 2024.