Guideline Value for Co-operative Colony Street 1

Co-operative Colony Street 1 guideline value

The current guideline value of Co-operative Colony Street 1 is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Mettupalayam village under the Mettupalayam SRO, classified as Residential Class I Type - I.

How the guideline value of Co-operative Colony Street 1 has changed

The guideline value for Co-operative Colony Street 1 has seen several revisions over the years. The 2002 revision set the value at Rs 158 per sq.ft, which increased to Rs 178 per sq.ft in 2003. Following this, the value rose significantly to Rs 325 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017 before stabilizing at Rs 1,500 per sq.ft in both 2023 and 2024. There are no figures for the years not mentioned in the register for this street.

Notably, the changes between revisions reflect a significant increase overall. From 2002 to 2024, the guideline value increased by 849%. The most notable jump occurred from 2007 to 2012, which saw an increase of 362%, while the value fell by 33% from 2012 to 2017. The value remained unchanged from 2023 to 2024, indicating stability at the current rate.

Guideline values in Mettupalayam

Mettupalayam village has 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 the area is Rs 700 per sq.ft, placing Co-operative Colony Street 1's 2024 figure above this median.

• Co-operative Colony Street 2: Rs 1,500 per sq.ft (2024)
• Co-operative Colony Main Road: Rs 1,500 per sq.ft (2024)
• Co-operative Colony Street 3: Rs 1,500 per sq.ft (2024)
• Co-operative Colony Street 4: Rs 1,500 per sq.ft (2024)
• Co-operative Colony Street 5: Rs 1,500 per sq.ft (2024)
• Co-operative Colony Street 6: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Co-operative Colony Street 1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that 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 Co-operative Colony Street 1?

The Sub Registrar Office that covers Co-operative Colony Street 1 is the Mettupalayam Sub Registrar Office, located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, 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 critical factor in property transactions in Mettupalayam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration of property sales. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the applicable fees, ensuring that the transaction is recorded accurately. This process helps maintain transparency in property dealings and ensures that the correct amount of duty is paid based on the established guideline values.

Frequently asked questions

What is the current guideline value of Co-operative Colony Street 1?

The current guideline value of Co-operative Colony Street 1 is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 158 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 849% over the years.

What is the stamp duty for property in Co-operative Colony Street 1?

The stamp duty for property in Co-operative Colony Street 1 is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Co-operative Colony Street 1?

The Sub Registrar Office for Co-operative Colony Street 1 is located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone.

What are the other streets with the same guideline value in Mettupalayam?

Other streets in Mettupalayam with the same guideline value of Rs 1,500 per sq.ft include Co-operative Colony Street 2, Co-operative Colony Main Road, Co-operative Colony Street 3, Co-operative Colony Street 4, Co-operative Colony Street 5, and Co-operative Colony Street 6.