Guideline Value for Metro Mount City - II

Metro Mount City - II guideline value

The current guideline value of Metro Mount City - II is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Mangalam village and falls under the Thirukazhukundram SRO. The land classification for this property is Residential Class I Type - III.

How the guideline value of Metro Mount City - II has changed

According to the guideline value register, there are no figures available for Metro Mount City - II for the revisions in 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 350 per sq.ft in the 2023 revision, and it remains unchanged at Rs 350 per sq.ft in the 2024 revision, reflecting a 0% change from the previous year.

This stability in the guideline value indicates that there has been no fluctuation in the valuation for this property over the last two years. The current rate of Rs 350 per sq.ft is consistent with the previous year's figure, maintaining its position within the local property market.

Guideline values in Mangalam

In Mangalam, there are 15 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 350 to Rs 1,300 per sq.ft, with a median value of Rs 575 per sq.ft. Metro Mount City - II's guideline value is below this median.

• Makizchi Nagar II: Rs 575 per sq.ft (2024)
• Makizchi Nagar: Rs 575 per sq.ft (2024)
• Ram Avenue: Rs 402 per sq.ft (2024)
• Singhvi Emerald: Rs 1,000 per sq.ft (2024)
• Sri Ragavendra Avenue: Rs 402 per sq.ft (2024)
• Sri Sai Ganesh Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Mount City - II

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metro Mount City - II?

The Sub Registrar Office that covers Metro Mount City - II 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 Mangalam

The guideline value is a crucial factor in the registration process of property transactions in Mangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is assessed to ensure that the transaction reflects a fair valuation for tax purposes. This value is used to calculate the applicable fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Metro Mount City - II?

The current guideline value of Metro Mount City - II is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been no changes in the guideline value for Metro Mount City - II from 2023 to 2024, remaining at Rs 350 per sq.ft. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Metro Mount City - II?

The land classification for Metro Mount City - II is Residential Class I Type - III, indicating its designated use for residential purposes.

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

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500, and the registration fee would be Rs 7,000, totaling Rs 31,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Metro Mount City - II located?

The Thirukazhukundram Sub Registrar Office is located at Thiruchengode - 637 211, Chengalpattu registration zone. This office handles the registration of properties in the area.