Guideline Value for Banrutti Main Road

Banrutti Main Road guideline value

The current guideline value of Banrutti Main Road is Rs 200 per sq.ft, effective from 1 July 2024. This road is located in Mettupalayam village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Banrutti Main Road has changed

Over the years, the guideline value for Banrutti Main Road has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision saw a significant increase from the previous figure of Rs 134 per sq.ft in 2012. The guideline value then remained at Rs 200 per sq.ft in both the 2023 and the 2024 revisions, reflecting a 0% change from 2023 to 2024 and a 49% increase from 2017 to 2023.

Notably, the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 900 per sq.ft. The median value is Rs 181 per sq.ft, indicating that Banrutti Main Road's 2024 figure is above this median.

• Ananda Habitat: Rs 600 per sq.ft (2024)
• Ambethkar Street: Rs 181 per sq.ft (2024)
• Ambethkar Main Road: Rs 181 per sq.ft (2024)
• Ambethkar Kurukku Street-III: Rs 181 per sq.ft (2024)
• Ambethkar Kurukku Street-II: Rs 181 per sq.ft (2024)
• Ambethkar Kurukku Street-I: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Banrutti Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Banrutti Main Road?

The Sub Registrar Office that covers Banrutti Main Road is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu 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 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 applicable to the transaction. Buyers and sellers should be aware that the guideline value is a fixed rate set by the government and is subject to periodic revisions.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties, ensuring that both parties comply with the legal requirements for property transactions. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Banrutti Main Road?

The current guideline value of Banrutti Main Road is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What is the land classification for Banrutti Main Road?

Banrutti Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Banrutti Main Road?

The registration office for Banrutti Main Road is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.