Guideline Value for Colony Road

Colony Road guideline value

The current guideline value of Colony Road is Rs 1,000 per sq.ft, effective from 1 July 2024. This road is located in Mettupalayam village, under the Mettupalayam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Colony Road has changed

The guideline value for Colony Road has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 158 per sq.ft. This increased to Rs 178 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 325 per sq.ft in 2007, reflecting an increase of +83%. In 2012, the guideline value saw a significant change, dropping to Rs 1,000 per sq.ft, which was a +208% increase from the previous revision. The value remained at Rs 1,000 per sq.ft in 2017, and again in 2023. As of the 2024 revision, the guideline value is still Rs 1,000 per sq.ft, indicating no change from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value for Colony Road has increased by +533%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Mettupalayam

In Mettupalayam, there are 327 streets under the Mettupalayam SRO, with guideline values for 2024 ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Colony Road's 2024 figure above that median.

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

Stamp duty and registration fee for property in Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for stamp duty and registration fee would be Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Colony Road?

The Sub Registrar Office that covers Colony Road 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 an essential factor in the registration process when buying or selling property in Mettupalayam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Colony Road?

The current guideline value of Colony Road is Rs 1,000 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 in 2002 to Rs 1,000 in 2024, reflecting an overall increase of +533% over the years.

What is the land classification for Colony Road?

Colony Road is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties on Colony Road?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Where is the Sub Registrar Office for Colony Road located?

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