Guideline Value for Cosmocity

Cosmocity guideline value

The current guideline value for Cosmocity in Mevaloorkuppam village is Rs 900 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Cosmocity has changed

The guideline value for Cosmocity has seen several revisions over the years. In 2012, the value was set at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft. Following this, the value increased significantly to Rs 900 per sq.ft in both the 2023 and 2024 revisions, marking a 49% increase from 2017 to 2023 and a 0% change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, comparing the 2012 and 2024 revisions, the guideline value has remained the same at Rs 900 per sq.ft. The fluctuations in value reflect the revisions made over the years, with the most recent figures indicating stability in the guideline value since 2023.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 200 to Rs 2,400 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, and the guideline value for Cosmocity is above this median.

• Cosmo city-II: Rs 900 per sq.ft (2024)
• Cosmo city ph.III: Rs 900 per sq.ft (2024)
• Cosmo city ph.IV: Rs 900 per sq.ft (2024)
• Cosmo city (south): 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 Cosmocity

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 is charged at 7%, which equals Rs 63,000, and the registration fee is 2%, amounting to Rs 18,000. Together, the total fees would be Rs 81,000. It is important to note that 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 information.

Which Sub Registrar Office covers Cosmocity?

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

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

The guideline value is a crucial factor during the registration of property transactions in Mevaloorkuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are fairly assessed according to the established values in the area.

Frequently asked questions

What is the current guideline value for Cosmocity?

The current guideline value for Cosmocity is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with a decrease to Rs 603 per sq.ft in 2017, followed by a return to Rs 900 per sq.ft in both 2023 and 2024. Overall, the value remains the same as in 2012.

What is the median guideline value in Mevaloorkuppam?

The median guideline value for the 69 streets in Mevaloorkuppam is Rs 400 per sq.ft, with Cosmocity's value being above this median.

What are the stamp duty rates for property in Cosmocity?

The stamp duty for property in Cosmocity is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Which office handles property registrations for Cosmocity?

The Sriperumpudur Sub Registrar Office handles property registrations for Cosmocity, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.