Guideline Value for Mettu street

Mettu street guideline value

The current guideline value of Mettu street in Chikkarayapuram village, under the Kunrathur SRO, is Rs 1,760 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

The guideline value for Mettu street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 1,600 per sq.ft in the 2012 revision, before dropping to Rs 1,072 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 1,600 per sq.ft, and the most recent 2024 revision has set it at Rs 1,760 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value increased by 433%. However, from 2012 to 2017, there was a decrease of 33%. The subsequent revisions show a 49% increase from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 487% from 2007 to 2024.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, placing Mettu street's 2024 figure below this median.

• Moogambigai Nagar Extension: Rs 1,980 per sq.ft (2024)
• Moogambigai nagar extension 2: Rs 1,980 per sq.ft (2024)
• Moogambigai Nagar/Extension Housing Society: Rs 1,980 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 1,980 per sq.ft (2024)
• Leelavathy Nagar Extn: Rs 1,980 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mettu street?

The Sub Registrar Office that covers Mettu street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Chikkarayapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies 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 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 487%.

What is the land classification for Mettu street?

Mettu street is classified as Residential Class I Type - I.

What are the stamp duty rates for properties in Mettu street?

The stamp duty for properties in Mettu street is calculated at 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Mettu street is located at No.59, Road Street, Kundrathur, Chennai -600 069.