Guideline Value for smart city phase-2

Smart City Phase-2 guideline value

The current guideline value of Smart City Phase-2 is Rs 900 per sq.ft, effective from 1 July 2024. This property is located in Mettupalayam village under the Sunguvarchattram SRO, classified as Residential Special Type - I.

How the guideline value of Smart City Phase-2 has changed

According to the register, the guideline value for Smart City Phase-2 has remained unchanged at Rs 900 per sq.ft from the 2023 revision to the 2024 revision, indicating a 0% change. Prior to this, there are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

For the years with available figures, the 2023 revision set the value at Rs 900 per sq.ft, which is consistent with the 2024 revision. The lack of figures for earlier years suggests that the guideline value for this street has been stable at Rs 900 per sq.ft since at least 2023.

Guideline values in Mettupalayam

Mettupalayam has 45 streets under the Sunguvarchattram SRO, with a 2024 guideline value range from Rs 181 to Rs 900 per sq.ft. The median value for these streets is Rs 181 per sq.ft, placing the Smart City Phase-2 guideline value above this median.

• Smart City: Rs 500 per sq.ft (2024)
• SriGayathiri Nagar: Rs 200 per sq.ft (2024)
• Sri Parameshwari Farm Land: Rs 200 per sq.ft (2024)
• SriRagavendra Nagar: Rs 200 per sq.ft (2024)
• Saneeshvarar kovil Street: Rs 200 per sq.ft (2024)
• Ramar Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Smart City Phase-2

For a 1,000 sq.ft plot at the current rate of Rs 900 per sq.ft, the guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, totaling Rs 81,000. It's important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Smart City Phase-2?

The Smart City Phase-2 is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mettupalayam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values will determine the applicable stamp duty and registration fees, ensuring compliance with local regulations and fair taxation.

Frequently asked questions

What is the current guideline value for Smart City Phase-2?

The current guideline value for Smart City Phase-2 is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 900 per sq.ft from 2023 to 2024, with no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Mettupalayam?

The median guideline value for the 45 streets in Mettupalayam is Rs 181 per sq.ft, with Smart City Phase-2's value above this median.

What are the stamp duty and registration fees for a property in Smart City Phase-2?

For a property valued at Rs 9,00,000, the stamp duty would be Rs 63,000 and the registration fee would be Rs 18,000, totaling Rs 81,000.

Where is the Sub Registrar Office for Smart City Phase-2 located?

The Sub Registrar Office for Smart City Phase-2 is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.