Guideline Value for Mettu Street

Mettu Street guideline value

The current guideline value of Mettu Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Mettu Street has changed

The guideline value for Mettu Street has seen significant changes over the years. In 2002, the guideline value was Rs 472 per sq.ft. This figure increased to Rs 546 per sq.ft in 2003, marking a 16% rise. The value continued to grow, reaching Rs 800 per sq.ft in 2007, which was a substantial increase of 47%. Following this, the value surged to Rs 3,100 per sq.ft in 2012, reflecting a remarkable 288% increase. However, there was a decrease to Rs 2,077 per sq.ft in 2017, a drop of 33%. The value then increased again to Rs 3,100 per sq.ft in 2023, before reaching the current value of Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 620%. The register does not have figures for revisions in years other than those listed.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 3,400 per sq.ft, which aligns with the current value for Mettu Street.

• M.G.R. Salai: Rs 3,800 per sq.ft (2024)
• Manali Express Road: Rs 3,400 per sq.ft (2024)
• Natraja Gramani Chettiar street: Rs 3,400 per sq.ft (2024)
• Kumaran Nagar: Rs 3,400 per sq.ft (2024)
• New Street: Rs 3,900 per sq.ft (2024)
• North Lane: Rs 3,400 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 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Satthankadu. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must refer to the guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value serves as a baseline to calculate the necessary fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Mettu Street?

The current guideline value of Mettu Street is Rs 3,400 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 472 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 620% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,06,000.

Which office handles property registrations for Mettu Street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Mettu Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value determined in Satthankadu?

The guideline value in Satthankadu is determined based on various factors, including land classification and revisions made by the Registration Department. It is updated periodically to reflect changes in the real estate landscape.