Guideline Value for Co-operative Colony Street 2

Co-operative Colony Street 2 guideline value

The current guideline value of Co-operative Colony Street 2 is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Mettupalayam village, under the Mettupalayam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Co-operative Colony Street 2 has changed

The guideline value for Co-operative Colony Street 2 has undergone several revisions over the years. In 2002, the value was Rs 158 per sq.ft, which increased to Rs 178 per sq.ft in 2003. The following revisions saw a significant rise, with the value reaching Rs 325 per sq.ft in 2007, and then soaring 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.

From 2017 to 2023, there was a notable increase of 49%. The most significant change occurred between 2007 and 2012, with an increase of 362%. Overall, from 2002 to 2024, the guideline value has increased by 849%. The register has no figure for the years that do not have a specified value for this street.

Guideline values in Mettupalayam

In Mettupalayam village, there are 327 streets under the Mettupalayam SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 700 per sq.ft. Co-operative Colony Street 2's 2024 figure of Rs 1,500 per sq.ft is above this median.

• Co-operative Colony Street 1: 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 Main Road: 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 2

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Co-operative Colony Street 2?

The Sub Registrar Office that covers Co-operative Colony Street 2 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 more 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 minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value is used to calculate applicable taxes and fees, such as stamp duty and registration fees. This ensures transparency in property transactions and helps maintain a standardized valuation across the region.

Frequently asked questions

What is the current guideline value of Co-operative Colony Street 2?

The current guideline value of Co-operative Colony Street 2 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 significantly, with the most notable increase occurring from Rs 325 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012. The value has seen fluctuations, including a drop to Rs 1,005 per sq.ft in 2017, before stabilizing at Rs 1,500 per sq.ft in 2023 and 2024.

What is the stamp duty rate for properties in Co-operative Colony Street 2?

The stamp duty rate for properties in Co-operative Colony Street 2 is 7% of the guideline value or sale price, whichever is higher. This is applicable during the registration process of the property.

Where is the Sub Registrar Office for Co-operative Colony Street 2 located?

The Sub Registrar Office for Co-operative Colony Street 2 is located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone.

How is the guideline value determined in Mettupalayam?

The guideline value in Mettupalayam is determined by the Registration Department and is based on various factors, including the location and classification of the property. It serves as a minimum value for property transactions and is updated periodically to reflect market conditions.