Guideline Value for SPE METRO CITY

Spe Metro City guideline value

The current guideline value of Spe Metro City is Rs 4,875 per sq.ft, effective from 1 July 2024. This property is located in Pidarithangal village, under the Poonamallee SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Spe Metro City has changed

The guideline value for Spe Metro City has seen significant changes over the years. In 2017, the value was Rs 2,965 per sq.ft. This increased to Rs 4,450 per sq.ft in the 2023 revision, marking a 50% rise. The most recent revision in 2024 set the value at Rs 4,875 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 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 Pidarithangal

Pidarithangal village features six streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,875 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Spe Metro City above this median.

• S.P.E Mono City: Rs 1,100 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 550 per sq.ft (2024)
• Pav Green Park: Rs 2,100 per sq.ft (2024)
• Varsha Masilamani Garden: Rs 4,875 per sq.ft (2024)

Stamp duty and registration fee for property in Spe Metro City

For a 1,000 sq.ft plot at the current guideline value of Rs 4,875 per sq.ft, the total guideline value would be Rs 48,75,000. The stamp duty at 7% would amount to Rs 3,41,250, and the registration fee at 2% would be Rs 97,500, bringing the total to Rs 4,38,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Spe Metro City?

The Sub Registrar Office that covers Spe Metro City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Pidarithangal

The guideline value is essential in determining the stamp duty and registration fees when buying or selling property in Pidarithangal. It serves as a benchmark for the minimum value at which the property can be registered.

When a property is sold, the transaction must be registered at the applicable guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and in accordance with local regulations.

Frequently asked questions

What is the current guideline value of Spe Metro City?

The current guideline value of Spe Metro City is Rs 4,875 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,965 per sq.ft in 2017 to Rs 4,875 per sq.ft in 2024, representing a total increase of 64% over the seven years.

What are the other streets in Pidarithangal and their guideline values?

Other streets in Pidarithangal include S.P.E Mono City at Rs 1,100 per sq.ft, Sri Lakshmi Nagar and Dhanalakshmi Nagar both at Rs 550 per sq.ft, Pav Green Park at Rs 2,100 per sq.ft, and Varsha Masilamani Garden at Rs 4,875 per sq.ft.

What is the stamp duty for property in Spe Metro City?

The stamp duty for property in Spe Metro City is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 48,75,000, the stamp duty would be Rs 3,41,250.

Where can I find the Sub Registrar Office for Spe Metro City?

The Sub Registrar Office for Spe Metro City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.