Guideline Value for METRO HITEC RESIDENCY

Metro Hitec Residency guideline value

The current guideline value for Metro Hitec Residency is Rs 4,580 per sq.ft, effective from 1 July 2024. This property is located in Kunrathour-B village, under the Kunrathur SRO, and is classified as Mixed Type - II land.

How the guideline value of Metro Hitec Residency has changed

The guideline value for Metro Hitec Residency has seen significant changes over the years. In the 2017 revision, the value was Rs 2,790 per sq.ft. This increased to Rs 4,165 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 4,580 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Metro Hitec Residency's 2024 figure above that median.

• Metro Grand City: Rs 4,580 per sq.ft (2024)
• Metha Nagar West 9th Street: Rs 1,540 per sq.ft (2024)
• Metha Nagar West 8th Street: Rs 1,540 per sq.ft (2024)
• Metro Saraswathi Avenue: Rs 2,090 per sq.ft (2024)
• Metha Nagar West 7th Street: Rs 1,540 per sq.ft (2024)
• Metro Star City: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Hitec Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 4,580 per sq.ft, the total guideline value would be Rs 45,80,000. The stamp duty, charged at 7%, would amount to Rs 3,20,600, while the registration fee at 2% would be Rs 91,600. Together, the total cost for stamp duty and registration would be Rs 4,12,200. It is essential to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metro Hitec Residency?

The Sub Registrar Office that covers Metro Hitec Residency is 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-B

The guideline value is a crucial factor in the registration process when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the higher of the guideline value or the sale price is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Metro Hitec Residency?

The current guideline value for Metro Hitec Residency is Rs 4,580 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,790 per sq.ft to Rs 4,580 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in the Kunrathur area is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Metro Hitec Residency?

The Sub Registrar Office for Metro Hitec Residency is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Kunrathour-B?

The median guideline value for streets in Kunrathour-B is Rs 1,540 per sq.ft, with Metro Hitec Residency's 2024 figure being above this median.