Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Theerthangiriyampattu village is Rs 605 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Mettu Street has changed

The guideline value of Mettu Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 550 per sq.ft in 2012. However, this figure dropped to Rs 368 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 550 per sq.ft, and the latest revision in 2024 has increased it further to Rs 605 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a 51% increase in the guideline value. Notably, there are no figures available for Mettu Street in the 2002 and 2003 revisions.

Guideline values in Theerthangiriyampattu

In Theerthangiriyampattu, there are 24 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, which is the same as the current value for Mettu Street.

• Moongilan Street: Rs 605 per sq.ft (2024)
• New Star City: Rs 585 per sq.ft (2024)
• New Star Garden: Rs 605 per sq.ft (2024)
• Paramanandam Nagar: Rs 330 per sq.ft (2024)
• Karunanidhi Street: Rs 605 per sq.ft (2024)
• Kannappar Street: Rs 770 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 605 per sq.ft, the total guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total cost for these fees to Rs 54,450. 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 details.

Which Sub Registrar Office covers Mettu Street?

The Sub Registrar Office that covers Mettu Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Theerthangiriyampattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties in a transaction are aware of the minimum value recognized by the government.

When a property is registered, the guideline value is utilized to determine the applicable fees, which are mandatory for completing the registration process. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 605 per sq.ft in 2024, reflecting a total increase of 51% over the years.

What are the other streets in Theerthangiriyampattu with their guideline values?

Other streets in Theerthangiriyampattu include Moongilan Street, New Star City, New Star Garden, Paramanandam Nagar, Karunanidhi Street, and Kannappar Street, with values ranging from Rs 330 to Rs 770 per sq.ft.

What fees are associated with buying property in Mettu Street?

When buying property in Mettu Street, you will incur stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mettu Street?

The Sub Registrar Office for Mettu Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.