Guideline Value for Cosmo city ph.IV

Cosmo city ph.IV guideline value

The current guideline value of Cosmo city ph.IV is Rs 900 per sq.ft, effective from 1 July 2024. This property is located in Mevaloorkuppam village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

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

The guideline value for Cosmo city ph.IV has undergone several revisions over the years. In 2012, the guideline value was set at Rs 900 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft, marking a reduction of 33%. Following this, the 2023 revision brought the value back to Rs 900 per sq.ft, and it remained the same in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, comparing the 2012 figure to the 2024 figure, there has been no change, as both are set at Rs 900 per sq.ft. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, 69 streets under the Sriperumpudur SRO have a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. Cosmo city ph.IV's guideline value of Rs 900 per sq.ft is above this median.

• Cosmo city ph.III: Rs 900 per sq.ft (2024)
• Cosmo city (south): Rs 900 per sq.ft (2024)
• Cosmo city-II: Rs 900 per sq.ft (2024)
• Cosmocity: Rs 900 per sq.ft (2024)
• Compact Homes -Manjari: Rs 900 per sq.ft (2024)
• Compact Home Niranjana: Rs 1,075 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, resulting in a total cost of Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cosmo city ph.IV?

The Sub Registrar Office that covers Cosmo city ph.IV 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

The guideline value plays a crucial role in property transactions in Mevaloorkuppam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

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

The current guideline value of Cosmo city ph.IV is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Cosmo city ph.IV has remained at Rs 900 per sq.ft from 2023 to 2024. It decreased from Rs 900 to Rs 603 per sq.ft in 2017 and then returned to Rs 900 per sq.ft in 2023.

What is the land classification for Cosmo city ph.IV?

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

Where can I find the Sub Registrar Office for Cosmo city ph.IV?

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

How is the stamp duty calculated for properties in Mevaloorkuppam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 900 per sq.ft, the total guideline value would be Rs 9,00,000, leading to a stamp duty of Rs 63,000.