Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Kolathur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Mettu Street has changed

The guideline value of Mettu Street has seen several revisions since 2003. The earliest recorded value in 2003 was Rs 256 per sq.ft, which increased significantly to Rs 1,000 per sq.ft by 2007, marking a growth of 291%. Following that, the value rose to Rs 2,500 per sq.ft in 2012, a notable increase of 150%. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing a substantial increase of 61% from 2017.

There are no recorded figures for Mettu Street in the years 2023 and 2002. Overall, from 2003 to 2024, the guideline value has increased by 955%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Mettu Street's 2024 guideline value is below this median.

• Mettu Street 1st Lane: Rs 2,700 per sq.ft (2024)
• Mettu Lane: 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)
• Meganathan Salai: 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 guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mettu Street?

Mettu Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the registration process adheres to legal standards.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 2,700 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 256 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 955% over this period.

What is the land classification for Mettu Street?

The land classification for Mettu Street is Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.