Guideline Value for Arumuga lane

Arumuga lane guideline value

The current guideline value of Arumuga lane, located in Mettupalayam village under the Mettupalayam SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Arumuga lane has changed

The guideline value for Arumuga lane has undergone several revisions over the years. The earliest recorded revision in 2003 set the value at Rs 60 per sq.ft. This figure increased significantly to Rs 255 per sq.ft in 2007, marking a 325% rise. In 2012, the value reached Rs 700 per sq.ft, reflecting a 175% increase from the previous revision. However, in 2017, the value decreased to Rs 469 per sq.ft, which was a decline of 33%.

In the subsequent revisions, the guideline value remained at Rs 700 per sq.ft in both 2023 and 2024, indicating no change between these two years. Overall, from 2003 to 2024, the guideline value has increased by 1,067%.

Guideline values in Mettupalayam

Mettupalayam village has a total of 327 streets under the Mettupalayam SRO, with the 2024 guideline values 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 matches the current value for Arumuga lane.

• Arun Nagar (S.F.248): Rs 1,000 per sq.ft (2024)
• Arun Nagar (Sriram Thieater Backside): Rs 1,000 per sq.ft (2024)
• Aringnar Anna Street: Rs 700 per sq.ft (2024)
• Appa Street: Rs 350 per sq.ft (2024)
• Appa Kadu: Rs 350 per sq.ft (2024)
• Annur Road: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga lane

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arumuga lane?

The Sub Registrar Office that covers Arumuga lane is the Mettupalayam Sub Registrar Office, located at 271-Coimbatore Main Road, Near Mettupapalayam Bustand, Mettupalayam-641301, Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Mettupalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for calculating the applicable fees and taxes during the registration process, providing transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Arumuga lane?

The current guideline value of Arumuga lane is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2003 to Rs 700 per sq.ft in 2024, marking an overall increase of 1,067% over this period.

What is the land classification for Arumuga lane?

Arumuga lane falls under the Residential Class III Type - I land classification.

Where can I find the Sub Registrar Office for Arumuga lane?

The Sub Registrar Office for Arumuga lane is the Mettupalayam Sub Registrar Office, located at 271-Coimbatore Main Road, Near Mettupapalayam Bustand, Mettupalayam-641301, Coimbatore registration zone.

How is the stamp duty calculated for property in Arumuga lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the stamp duty would be Rs 49,000.