Guideline Value for METRO GARDEN CITY

Metro Garden City guideline value

The current guideline value of Metro Garden City in Vasavasamuthiram village is Rs 580 per sq.ft, effective from 1 July 2024. This property falls under the Thirukazhukundram SRO and is classified as Mixed Type - III land.

How the guideline value of Metro Garden City has changed

The guideline value for Metro Garden City has seen significant changes over the years. In the 2017 revision, the value was Rs 350 per sq.ft, which increased to Rs 523 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 580 per sq.ft, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value rose by 49%, and the overall increase from 2017 to 2024 is 66%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Vasavasamuthiram

In Vasavasamuthiram, there are 10 streets under the Thirukazhukundram SRO with a 2024 guideline value ranging from Rs 165 to Rs 935 per sq.ft. The median value for these streets is Rs 385 per sq.ft, making the guideline value of Metro Garden City above that median.

• Coral County: Rs 440 per sq.ft (2024)
• 3 Star Farm House Alias Vip City In Mango Garden: Rs 580 per sq.ft (2024)
• Golden Grove Project: Rs 165 per sq.ft (2024)
• Indira Nagar: Rs 330 per sq.ft (2024)
• Jasmine Avenue: Rs 330 per sq.ft (2024)
• Raguman Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Garden City

For a 1,000 sq.ft plot at the current guideline value of Rs 580 per sq.ft, the total guideline value amounts to Rs 5,80,000. The stamp duty at 7% would be Rs 40,600, and the registration fee at 2% would be Rs 11,600, bringing the total fees to Rs 52,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metro Garden City?

The Sub Registrar Office that covers Metro Garden City is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Vasavasamuthiram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When a property is bought or sold, the guideline value helps determine the official valuation for registration purposes. This ensures transparency and compliance with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Metro Garden City?

The current guideline value of Metro Garden City is Rs 580 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 350 per sq.ft in 2017 to Rs 523 per sq.ft in 2023, and then to Rs 580 per sq.ft in 2024. This shows a significant increase over the years.

What is the land classification of Metro Garden City?

Metro Garden City is classified as Mixed Type - III land, which indicates its suitability for various types of development.

What are the other streets in Vasavasamuthiram?

Other streets in Vasavasamuthiram include Coral County, 3 Star Farm House Alias Vip City In Mango Garden, Golden Grove Project, Indira Nagar, Jasmine Avenue, and Raguman Nagar, each with their respective guideline values for 2024.

Where can I find the Sub Registrar Office for Metro Garden City?

The Sub Registrar Office for Metro Garden City is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.