Guideline Value for Metro City Society (Phase II)

Metro City Society (Phase II) guideline value

The current guideline value for Metro City Society (Phase II) is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in 44.Ayanambakkam village under the Konnur SRO, classified as Residential Special Type - III.

How the guideline value of Metro City Society (Phase II) has changed

The guideline value for Metro City Society (Phase II) has seen several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in 2023, marking a significant rise of 49%. The most recent 2024 revision has further increased the value to Rs 1,700 per sq.ft, reflecting a 6% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. 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 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Metro City Society (Phase II) is above this median.

• Metro City Society (Phase I): Rs 1,700 per sq.ft (2024)
• Metro City Society (Phase III): Rs 1,700 per sq.ft (2024)
• Metro City Society (Phase IV): Rs 1,700 per sq.ft (2024)
• Metro City View House Site Sch: Rs 1,700 per sq.ft (2024)
• Mel Ayanampakkam Perumal Koil Main Street: Rs 1,100 per sq.ft (2024)
• Mel Ayanambakkam Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Metro City Society (Phase II)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. 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 information on fees.

Which Sub Registrar Office covers Metro City Society (Phase II)?

The Konnur Sub Registrar Office covers Metro City Society (Phase II). The office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in 44.Ayanambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is used to calculate the fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value for Metro City Society (Phase II)?

The current guideline value for Metro City Society (Phase II) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 59% over this period.

What is the land classification for Metro City Society (Phase II)?

Metro City Society (Phase II) is classified as Residential Special Type - III under the Konnur SRO.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.