Guideline Value for Farm Land

Farm Land guideline value

The current guideline value for Farm Land in Mettupalayam village, under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Farm Land has changed

Over the years, the guideline value for Farm Land has undergone several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 200 per sq.ft. The most recent 2024 revision also maintains this figure at Rs 200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

When examining the changes between revisions, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been no change in the guideline value.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO, with 2024 guideline values ranging from Rs 181 to Rs 900 per sq.ft. The median value is Rs 181 per sq.ft, placing the current guideline value of Rs 200 per sq.ft for Farm Land above this median.

• Ellaiamman Kovil Street: Rs 181 per sq.ft (2024)
• Gandhi Nagar: Rs 181 per sq.ft (2024)
• Gayathri Nagar: Rs 200 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 200 per sq.ft (2024)
• Banrutti Main Road: Rs 200 per sq.ft (2024)
• Kangaiamman Street: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Farm Land

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Farm Land?

The Farm Land is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu 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 plays a crucial role in the registration process when buying or selling property in Mettupalayam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

During the registration, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue based on the actual market conditions and the official valuation.

Frequently asked questions

What is the current guideline value for Farm Land in Mettupalayam?

The current guideline value for Farm Land in Mettupalayam is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 200 per sq.ft in both 2023 and 2024. The value decreased to Rs 134 per sq.ft in 2017 from Rs 200 per sq.ft in 2012.

What are the guideline values for other streets in Mettupalayam?

Other streets in Mettupalayam have varying guideline values, with rates ranging from Rs 181 to Rs 200 per sq.ft in 2024. The median value for these streets is Rs 181 per sq.ft.

What fees are associated with buying property in Farm Land?

When buying property in Farm Land, fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Farm Land?

The Sub Registrar Office covering Farm Land is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more information about your SRO online.