Guideline Value for Cosmo city-II

Cosmo city-II guideline value

The current guideline value of Cosmo city-II 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-II has changed

Over the years, the guideline value for Cosmo city-II has seen several revisions. The 2017 revision set the value at Rs 603 per sq.ft, which increased to Rs 900 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 1,320 per sq.ft, marking a significant increase of 47% from the previous year. Overall, the guideline value has risen by 119% from the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of figures for these years indicates that the guideline value remained unchanged during those periods.

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. The median value for these streets is Rs 400 per sq.ft, placing Cosmo city-II's 2024 figure above this median.

• Cosmo city ph.III: Rs 1,320 per sq.ft (2024)
• Cosmo city ph.IV: Rs 1,320 per sq.ft (2024)
• Cosmocity: Rs 1,320 per sq.ft (2024)
• Cosmo city (south): 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-II

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, while the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Cosmo city-II?

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

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

The guideline value is a critical factor in property transactions within Mevaloorkuppam B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Cosmo city-II?

The current guideline value of Cosmo city-II 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 increased from Rs 603 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, representing an overall increase of 119% over this period.

What is the land classification for Cosmo city-II?

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

What are the stamp duty and registration fees for property in Cosmo city-II?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 1,18,800.

Where is the Sub Registrar Office for Cosmo city-II located?

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