Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Nasarathpettai village, under the Poonamallee SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Mettu Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, a rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for Mettu Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nasarathpettai

Nasarathpettai has 19 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the 2024 figure for Mettu Street.

• Nataraja Nagar: Rs 1,320 per sq.ft (2024)
• Padasalai Street: Rs 1,320 per sq.ft (2024)
• Periya chetti theru enkira gandhi street: Rs 1,320 per sq.ft (2024)
• Kannappa Street: Rs 1,320 per sq.ft (2024)
• Kakkila street: Rs 1,320 per sq.ft (2024)
• Rajarathinam nagar: Rs 1,320 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. 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 the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nasarathpettai. It is the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate the applicable fees.

When registering a property, the higher of the guideline value or the sale price is used to determine the stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, reflecting the value of the property as per the latest revisions.

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 seen several changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then rising to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Mettu Street?

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

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

For a 1,000 sq.ft property, the total guideline value is Rs 13,20,000. The stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for properties in Nasarathpettai?

The Poonamallee Sub Registrar Office handles registrations for properties in Nasarathpettai, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.