Guideline Value for Appa Street

Appa Street guideline value

The current guideline value of Appa Street is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Mettupalayam village, under the Mettupalayam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Appa Street has changed

The guideline value for Appa Street has seen several revisions over the years. In 2003, the value was Rs 119 per sq.ft, which increased significantly to Rs 285 per sq.ft in 2007. The value then rose to Rs 350 per sq.ft in 2012, remained the same in 2023, and was again set at Rs 350 per sq.ft in the 2024 revision. Notably, there is no figure available for the year 2002 in the register.

From 2012 to 2017, the value dropped by 33% to Rs 234 per sq.ft. However, from 2017 to 2023, it increased by 50% back to Rs 350 per sq.ft. Overall, from 2003 to 2024, the guideline value has increased by 194%.

Guideline values in Mettupalayam

Mettupalayam village has a total of 327 streets under the Mettupalayam SRO, with guideline values ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, placing Appa Street's 2024 figure below this median.

• Appa Kadu: Rs 350 per sq.ft (2024)
• Annur Road: Rs 2,000 per sq.ft (2024)
• Aringnar Anna Street: Rs 700 per sq.ft (2024)
• Anna Nagar Colony: Rs 600 per sq.ft (2024)
• Arumuga lane: Rs 700 per sq.ft (2024)
• Annaj Road Westside Girls High school Road: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Appa Street

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, making the total charges Rs 31,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Appa Street?

The Sub Registrar Office covering Appa Street 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 additional 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 serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue based on the property's valuation.

Frequently asked questions

What is the current guideline value of Appa Street?

The current guideline value of Appa Street is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 119 per sq.ft in 2003 to Rs 350 per sq.ft in 2024, reflecting an overall increase of 194% over this period.

What are the stamp duty and registration fees for property in Appa Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total charges would amount to Rs 31,500.

Which office handles property registration for Appa Street?

The Mettupalayam Sub Registrar Office is responsible for property registrations in Appa Street, located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the fees are based on the property's valuation, either by the guideline value or the sale price, whichever is higher.