Guideline Value for METRO ELITE HOME

Metro Elite Home guideline value

The current guideline value of Metro Elite Home in Karunilam village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Metro Elite Home has changed

Since the 2012 revision, the guideline value for Metro Elite Home has remained constant at Rs 700 per sq.ft in 2012 and again in 2023 and 2024. The 2017 revision saw a significant increase to Rs 469 per sq.ft, marking a 49% rise from the previous revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has shown no change, remaining at Rs 700 per sq.ft. The only fluctuation occurred between 2012 and 2017, where a decrease of 33% was noted before the value stabilized again in subsequent revisions.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft. The median value for these streets is Rs 501 per sq.ft, placing Metro Elite Home's guideline value above this median.

• Metro Prasana Garden House Site Scheme: Rs 700 per sq.ft (2024)
• Metro Prasana Garden Phase -II: Rs 500 per sq.ft (2024)
• Mgm Nagar: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase - V: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase - IV: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase - III: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Elite Home

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these fees to Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Metro Elite Home?

The Chengleput Joint II Sub Registrar Office covers Metro Elite Home, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Karunilam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the property's worth according to official valuations.

Frequently asked questions

What is the current guideline value of Metro Elite Home?

The current guideline value of Metro Elite Home is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft in 2012, 2023, and 2024, with a significant increase to Rs 469 per sq.ft in 2017. The overall change from 2012 to 2024 is 0%.

What is the land classification for Metro Elite Home?

Metro Elite Home is classified as Residential Special Type - I under the Chengleput Joint II SRO.

What are the other streets in Karunilam with their guideline values?

Other streets in Karunilam include Metro Prasana Garden House Site Scheme at Rs 700 per sq.ft, Metro Prasana Garden Phase -II at Rs 500 per sq.ft, and several streets in Mahalakshmi Nagar all at Rs 700 per sq.ft.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information on how to locate your SRO online.