Guideline Value for Co-operative Colony Street 4

Co-operative Colony Street 4 guideline value

The current guideline value of Co-operative Colony Street 4 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 4 has changed

The guideline value for Co-operative Colony Street 4 has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 167 per sq.ft. This increased to Rs 188 per sq.ft in 2003, marking a change of +13%. In 2007, the value jumped significantly to Rs 325 per sq.ft, representing a +73% change. The 2012 revision saw the value rise to Rs 1,500 per sq.ft, a remarkable increase of +362%. However, in 2017, the value dropped to Rs 1,005 per sq.ft, which is a decrease of -33%. The guideline value remained at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these years.

Overall, from the first recorded value in 2002 to the current value in 2024, there has been an increase of +798%. It is important to note that there are no figures available for the revisions in years other than those specified.

Guideline values in Mettupalayam

In Mettupalayam village, there are 327 streets under the Mettupalayam SRO with a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value is Rs 700 per sq.ft, placing Co-operative Colony Street 4's 2024 figure above that median.

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

Stamp duty and registration fee for property in Co-operative Colony Street 4

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, making the total cost for these fees Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Co-operative Colony Street 4?

The Sub Registrar Office that covers Co-operative Colony Street 4 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mettupalayam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value ensures that both the buyer and seller are aware of the minimum value for the transaction. This helps in maintaining transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Co-operative Colony Street 4?

The current guideline value of Co-operative Colony Street 4 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 undergone several revisions, with the most significant increase occurring between 2007 and 2012, where it rose from Rs 325 per sq.ft to Rs 1,500 per sq.ft. The value has remained at Rs 1,500 per sq.ft since 2012, with no change noted in 2023 and 2024.

What is the land classification of Co-operative Colony Street 4?

Co-operative Colony Street 4 is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Mettupalayam Sub Registrar Office?

The Mettupalayam Sub Registrar Office is located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone.

How is the stamp duty calculated for properties in Co-operative Colony Street 4?

The stamp duty for properties in Co-operative Colony Street 4 is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at a rate of 7%.