Guideline Value for METRO GRAND CITY EXTENSION

Metro Grand City Extension guideline value

The current guideline value of Metro Grand City Extension is Rs 5,123 per sq.ft, effective from 1 July 2024. This property is located in Kunrathour-A village, under the Kunrathur SRO, and is classified as Mixed Type - I land.

How the guideline value of Metro Grand City Extension has changed

The guideline value for Metro Grand City Extension has seen several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 3,120 per sq.ft. This figure rose significantly to Rs 4,657 per sq.ft in the 2023 revision, marking an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 5,123 per sq.ft, which is a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-A

In Kunrathour-A, there are 45 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,210 to Rs 5,123 per sq.ft. The median guideline value in this area is Rs 1,760 per sq.ft, placing Metro Grand City Extension's 2024 figure above that median.

• Murugan Nagar: Rs 1,760 per sq.ft (2024)
• Kathiravan Avenue & Annex: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Sekkizhar Nagar 3rd Street: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Sekkizhar Nagar 1st Street: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Main Road: Rs 1,430 per sq.ft (2024)
• Ganapathy nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Grand City Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 5,123 per sq.ft, the total guideline value would be Rs 51,23,000. The stamp duty at 7% would amount to Rs 3,58,610, and the registration fee at 2% would be Rs 1,02,460. Together, the total cost for stamp duty and registration would be Rs 4,61,070. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Metro Grand City Extension?

The Metro Grand City Extension falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-A

The guideline value is a crucial factor in the registration process when buying or selling property in Kunrathour-A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Metro Grand City Extension?

The current guideline value of Metro Grand City Extension is Rs 5,123 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,120 per sq.ft in 2017 to Rs 4,657 per sq.ft in 2023, and then to Rs 5,123 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for a property in Metro Grand City Extension?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 51,23,000. The stamp duty would be Rs 3,58,610, and the registration fee would be Rs 1,02,460, totaling Rs 4,61,070.

Which Sub Registrar Office covers Metro Grand City Extension?

The Kunrathur Sub Registrar Office covers Metro Grand City Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Metro Grand City Extension?

Metro Grand City Extension is classified as Mixed Type - I land, which indicates a blend of residential and commercial uses in the area.