Guideline Value for Metro Star City

Metro Star City guideline value

The current guideline value of Metro Star City is Rs 2,420 per sq.ft, effective from 1 July 2024. This property is located in Kunrathour-B village under the Kunrathur SRO, with a land classification of Mixed Special Type - I.

How the guideline value of Metro Star City has changed

The guideline value for Metro Star City has seen significant changes over the years. In the 2017 revision, the value was Rs 1,474 per sq.ft. This increased to Rs 2,200 per sq.ft in the 2023 revision, marking a 49% increase. The current guideline value of Rs 2,420 per sq.ft from the 2024 revision represents a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register does not provide figures 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, with a median value of Rs 1,540 per sq.ft. The guideline value for Metro Star City is above this median.

• Metro Saraswathi Avenue: Rs 2,090 per sq.ft (2024)
• Metro Star City Annexe: Rs 2,420 per sq.ft (2024)
• Metro Hitec Residency: Rs 4,580 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Metro Star City

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Metro Star City?

The Sub Registrar Office that covers Metro Star City 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 critical factor in determining the registration fees and stamp duty when buying or selling property in Kunrathour-B. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

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

Frequently asked questions

What is the current guideline value for Metro Star City?

The current guideline value for Metro Star City is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,474 per sq.ft to Rs 2,420 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Metro Star City?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total cost would be Rs 2,17,800.

Which Sub Registrar Office handles registrations for Metro Star City?

The Kunrathur Sub Registrar Office handles registrations for Metro Star City, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Metro Star City?

Metro Star City is classified as Mixed Special Type - I, which indicates the type of development and usage permitted in the area.