Guideline Value for METRO GARDEN PHASE-I TO IV

Metro Garden Phase-I To IV guideline value

The current guideline value for Metro Garden Phase-I To IV is Rs 300 per sq.ft, effective from 1 July 2024. This property is located in Ozhalur village, under the Chengleput Joint I SRO, with a land classification of Residential Class I Type - I.

How the guideline value of Metro Garden Phase-I To IV has changed

Over the years, the guideline value for Metro Garden Phase-I To IV has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 201 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 300 per sq.ft. The 2024 revision has maintained this rate, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been no net change in the guideline value, remaining at Rs 300 per sq.ft.

Guideline values in Ozhalur

In Ozhalur, there are 13 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 672 per sq.ft. The guideline value for Metro Garden Phase-I To IV is equal to the median value of Rs 300 per sq.ft. Below are the guideline values for other streets in Ozhalur:

• Muthu Nagar: Rs 250 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 650 per sq.ft (2024)
• Green City Phase - I, II, III, IV, V: Rs 650 per sq.ft (2024)
• Green city: Rs 672 per sq.ft (2024)
• Sakthi Ganesh Nagar: Rs 250 per sq.ft (2024)
• Sakthi Nagar: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Garden Phase-I To IV

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Metro Garden Phase-I To IV?

The Chengleput Joint I Sub Registrar Office covers Metro Garden Phase-I To IV. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ozhalur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller approaches the Chengleput Joint I SRO for registration, the guideline value will be referenced to assess the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Metro Garden Phase-I To IV?

The current guideline value for Metro Garden Phase-I To IV is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a notable increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What are the guideline values for other streets in Ozhalur?

Other streets in Ozhalur have varying guideline values, ranging from Rs 250 to Rs 672 per sq.ft. The median value for these streets is Rs 300 per sq.ft.

What are the stamp duty and registration fees for property in Metro Garden Phase-I To IV?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Chengleput Joint I Sub Registrar Office located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.