Guideline Value for Cosmo city ph.III

Cosmo city ph.III guideline value

The current guideline value of Cosmo city ph.III is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Mevaloorkuppam B village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Cosmo city ph.III has changed

Over the years, the guideline value of Cosmo city ph.III has seen significant changes. The 2017 revision set the value at Rs 603 per sq.ft, which increased to Rs 900 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 47% increase from the previous year. The overall change from 2017 to 2024 is a substantial 119%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Thus, the guideline value has only been established in the revisions from 2017, 2023, and 2024.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft, with a median value of Rs 400 per sq.ft. Cosmo city ph.III's guideline value of Rs 1,320 per sq.ft is above this median.

• Cosmo city-II: Rs 1,320 per sq.ft (2024)
• Cosmo city ph.IV: Rs 1,320 per sq.ft (2024)
• Cosmo city (south): Rs 1,320 per sq.ft (2024)
• Cosmocity: Rs 1,320 per sq.ft (2024)
• Compact Homes -Manjari: Rs 1,320 per sq.ft (2024)
• Chennai Bangalore National Highway: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Cosmo city ph.III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. Duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cosmo city ph.III?

The Sub Registrar Office that covers Cosmo city ph.III is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Mevaloorkuppam B. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When a property transaction occurs, the buyer and seller must consider the guideline value, as it influences the overall costs associated with the registration process. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Cosmo city ph.III?

The current guideline value of Cosmo city ph.III is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, marking an overall increase of 119% from 2017 to 2024.

What is the land classification of Cosmo city ph.III?

Cosmo city ph.III is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Cosmo city ph.III located?

The Sub Registrar Office for Cosmo city ph.III is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Cosmo city ph.III?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,20,000 would incur a stamp duty of Rs 92,400 at a rate of 7%.