Guideline Value for Mettur - 2nd Street

Mettur - 2nd Street guideline value

The current guideline value of Mettur - 2nd Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Soorapattu village under the Ambattur SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Mettur - 2nd Street has changed

The guideline value for Mettur - 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft from the 2024 revision.

From the 2017 to 2023 revision, there was a notable increase of 49%. The change from 2023 to 2024 reflects a 9% rise. Overall, when comparing the 2012 revision to the current 2024 figure, there has been a 9% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value of Mettur - 2nd Street is below this median.

• Mettur - 1st Street: Rs 1,200 per sq.ft (2024)
• Mettur - 3rd Street: Rs 1,200 per sq.ft (2024)
• Mettur - 4th Street: Rs 1,200 per sq.ft (2024)
• Mettur - 5th Street: Rs 1,200 per sq.ft (2024)
• Mettur - 6th Street: Rs 1,200 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mettur - 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 Mettur - 2nd Street?

The Mettur - 2nd Street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Soorapattu. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is documented at a value recognized by the Registration Department.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mettur - 2nd Street?

The current guideline value of Mettur - 2nd Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft in 2024.

What is the land classification for Mettur - 2nd Street?

Mettur - 2nd Street falls under the Residential Class II Type - II land classification according to the guidelines set by the Registration Department.

What are the stamp duty and registration fees for properties in Mettur - 2nd Street?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles registrations for Mettur - 2nd Street?

The Ambattur Sub Registrar Office handles registrations for Mettur - 2nd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.