Guideline Value for Ambethkar Street 1 (Pallar Street 1)

Ambethkar Street 1 (Pallar Street 1) guideline value

The current guideline value of Ambethkar Street 1 (Pallar Street 1) is Rs 600 per sq.ft. This street is located in Mettupalayam village, under the Mettupalayam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ambethkar Street 1 (Pallar Street 1) has changed

The guideline value for Ambethkar Street 1 (Pallar Street 1) has undergone several revisions since 2002. The 2002 revision set the value at Rs 185 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 12% rise. In 2007, the value further increased to Rs 285 per sq.ft, reflecting a 37% change. The 2012 revision saw a significant jump to Rs 600 per sq.ft, a 111% increase. However, in 2017, the value dropped to Rs 402 per sq.ft, which was a decrease of 33%. The guideline value remained at Rs 600 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 224%. The register has no figure for the years not listed in these revisions.

Guideline values in Mettupalayam

In Mettupalayam, there are 327 streets under the Mettupalayam SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Ambethkar Street 1 (Pallar Street 1) at Rs 600 per sq.ft is below this median.

• Ambethkar Street 2 (Pallar Street 2): Rs 600 per sq.ft (2024)
• Amman Kovil Street: Rs 600 per sq.ft (2024)
• Agrahara Street: Rs 600 per sq.ft (2024)
• Agrahara South Street: Rs 600 per sq.ft (2024)
• Agrahara North Street: Rs 600 per sq.ft (2024)
• Agrahara New Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Street 1 (Pallar Street 1)

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value is Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 precise calculations.

Which Sub Registrar Office covers Ambethkar Street 1 (Pallar Street 1)?

The Sub Registrar Office covering Ambethkar Street 1 (Pallar Street 1) is the Mettupalayam Sub Registrar Office, located at 271-Coimbatore Main Road, near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mettupalayam. It is used to determine the stamp duty and registration fees applicable to the sale or purchase of property.

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

Frequently asked questions

What is the current guideline value of Ambethkar Street 1 (Pallar Street 1)?

The current guideline value of Ambethkar Street 1 (Pallar Street 1) is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 185 per sq.ft in 2002 to Rs 600 per sq.ft in 2024, reflecting an overall increase of 224% over the years.

What is the land classification for Ambethkar Street 1 (Pallar Street 1)?

Ambethkar Street 1 (Pallar Street 1) is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 6,00,000, the stamp duty is Rs 42,000, and the registration fee is Rs 12,000, totaling Rs 54,000.

Where can I find the Sub Registrar Office for Ambethkar Street 1 (Pallar Street 1)?

The Sub Registrar Office for Ambethkar Street 1 (Pallar Street 1) is located at 271-Coimbatore Main Road, near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone.