Guideline Value for Mettu street

Mettu street guideline value

The current guideline value of Mettu street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village under the Chennai North Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Mettu street has changed

The guideline value for Mettu street has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 150%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, representing a decline of 33%. The 2023 revision brought the value back up to Rs 5,000 per sq.ft, and the current 2024 revision has further increased it to Rs 5,500 per sq.ft, a rise of 10% from the previous year.

It is important to note that there are no figures available for Mettu street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 175%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which is the same as the current value for Mettu street.

• Meerali street: Rs 5,500 per sq.ft (2024)
• Meerali lane: Rs 4,900 per sq.ft (2024)
• Mooker Nallamuthu street: Rs 18,000 per sq.ft (2024)
• Moore street: Rs 15,900 per sq.ft (2024)
• Moore street 2nd lane: Rs 7,700 per sq.ft (2024)
• Moore street Ist lane: Rs 7,700 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 details on fees applicable to your property transactions.

Which Sub Registrar Office covers Mettu street?

The Sub Registrar Office that covers Mettu street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Muthialpet. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers should be aware that the guideline value can influence the overall cost of the transaction.

When registering a property, the guideline value serves as a baseline for calculating the fees, ensuring that the government receives appropriate revenue from property sales. It is essential for both buyers and sellers to be informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Mettu street?

The current guideline value of Mettu street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 175% over the years.

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 Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What are the guideline values of other streets in Muthialpet?

Other streets in Muthialpet have varying guideline values, ranging from Rs 3,800 to Rs 18,000 per sq.ft, with the median value being Rs 5,500 per sq.ft, the same as Mettu street.