Guideline Value for Thatchoor Mettu Street

Thatchoor Mettu Street guideline value

The current guideline value of Thatchoor Mettu Street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village and falls under the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thatchoor Mettu Street has changed

Over the years, the guideline value for Thatchoor Mettu Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased to Rs 300 per sq.ft in 2012, marking a 50% rise. However, in 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. From 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, a rise of 49%. The current figure of Rs 300 per sq.ft remains unchanged from the 2023 revision and will continue to be effective until the next revision.

It is important to note that there are no recorded figures for Thatchoor Mettu Street in the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 50%.

Guideline values in Panchetty

In Panchetty village, there are 46 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft, with a median value of Rs 1,000 per sq.ft. Thatchoor Mettu Street's current value is below this median.

• Thatchoor Irular Colony Main Street: Rs 300 per sq.ft (2024)
• Thatchoor School Salai: Rs 1,000 per sq.ft (2024)
• Thatchoor Irular Colony Eswaran Koil Street: Rs 300 per sq.ft (2024)
• Thatchoor Udaiyar 1st Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Irular Colony 3rd Cross Street: Rs 300 per sq.ft (2024)
• Thatchoor Udaiyar 2nd Cross Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thatchoor Mettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thatchoor Mettu Street?

The Sub Registrar Office that covers Thatchoor Mettu Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

When buying or selling property in Panchetty, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

The guideline value helps maintain transparency in property transactions and is essential for both buyers and sellers to understand. It is advisable to check the latest guideline value before proceeding with any property transactions to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thatchoor Mettu Street?

The current guideline value of Thatchoor Mettu Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant changes occurring between 2017 and 2023, where it rose from Rs 201 to Rs 300 per sq.ft, a 49% increase.

What is the registration office for Thatchoor Mettu Street?

The registration office for Thatchoor Mettu Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Thatchoor Mettu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 21,000.

What other streets in Panchetty have guideline values?

Other streets in Panchetty include Thatchoor Irular Colony Main Street and Thatchoor School Salai, among others, with guideline values ranging from Rs 300 to Rs 1,000 per sq.ft as of 2024.