Guideline Value for Ambethkar Street 2 (Pallar Street 2)

Ambethkar Street 2 (Pallar Street 2) guideline value

The current guideline value of Ambethkar Street 2 (Pallar Street 2) is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Mettupalayam village under the Mettupalayam SRO, classified as Residential Class IV Type - I.

How the guideline value of Ambethkar Street 2 (Pallar Street 2) has changed

The guideline value for Ambethkar Street 2 has undergone several revisions over the years. In 2002, the value was Rs 185 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 12% rise. The value further increased to Rs 285 per sq.ft in 2007, reflecting a 37% change. By 2012, the guideline value reached Rs 600 per sq.ft, showing a significant increase of 111%. However, it experienced a decline to Rs 402 per sq.ft in 2017, which was a drop of 33%.

From 2017 to 2023, the value rose to Rs 600 per sq.ft, indicating a 49% increase. The most recent revision in 2024 has maintained the guideline value at Rs 600 per sq.ft, resulting in a 0% change from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 224%.

Guideline values in Mettupalayam

In Mettupalayam, there are 327 streets under the Mettupalayam SRO with a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which means that the guideline value for Ambethkar Street 2 is below this median.

• Ambethkar Street 1 (Pallar Street 1): 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 2 (Pallar Street 2)

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ambethkar Street 2 (Pallar Street 2)?

The Sub Registrar Office covering Ambethkar Street 2 is the Mettupalayam Sub Registrar Office, located at 271-Coimbatore Main Road, Near Mettupapalayam Bustand, Mettupalayam-641301, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mettupalayam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to assess the financial obligations associated with the property transfer.

When registering a property, 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 in the area.

Frequently asked questions

What is the current guideline value of Ambethkar Street 2?

The current guideline value of Ambethkar Street 2 (Pallar Street 2) 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 several times, with the most recent revision in 2024 maintaining the value at Rs 600 per sq.ft, while it was Rs 402 per sq.ft in 2017.

What is the land classification of Ambethkar Street 2?

Ambethkar Street 2 is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Ambethkar Street 2?

The Sub Registrar Office for Ambethkar Street 2 is located at 271-Coimbatore Main Road, Near Mettupapalayam Bustand, Mettupalayam-641301, Coimbatore registration zone.

How is the stamp duty calculated for properties in Ambethkar Street 2?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.