Guideline Value for Mettur - 5th Street

Mettur - 5th Street guideline value

The current guideline value of Mettur - 5th 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 is classified as Residential Class II Type - II.

How the guideline value of Mettur - 5th Street has changed

The guideline value for Mettur - 5th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,100 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 737 per sq.ft. The value then increased to Rs 1,100 per sq.ft in 2023, before reaching the current figure of Rs 1,200 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, the value increased significantly by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Soorapattu

In Soorapattu, 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. The median value of these streets is Rs 1,300 per sq.ft, making the guideline value of Mettur - 5th Street below that median.

• Mettur - 4th Street: Rs 1,200 per sq.ft (2024)
• Mettur - 6th Street: Rs 1,200 per sq.ft (2024)
• Mettur - 3rd Street: Rs 1,200 per sq.ft (2024)
• Mettur - 2nd Street: Rs 1,200 per sq.ft (2024)
• Mettur - 1st 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 - 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value totals Rs 12,00,000. The stamp duty at 7% amounts to Rs 84,000, and the registration fee at 2% is Rs 24,000, bringing the total to Rs 1,08,000. 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 further calculations.

Which Sub Registrar Office covers Mettur - 5th Street?

The Mettur - 5th 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 when registering property transactions in Soorapattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value, as it directly impacts the financial obligations during the registration process. Buyers should be aware that the guideline value may differ from the negotiated sale price, and the higher amount will be used for calculating the applicable duties.

Frequently asked questions

What is the current guideline value of Mettur - 5th Street?

The current guideline value of Mettur - 5th 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 increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Mettur - 5th Street?

Mettur - 5th Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 1,08,000 in fees.

Which office handles registrations for Mettur - 5th Street?

The Ambattur Sub Registrar Office handles registrations for Mettur - 5th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.