Guideline Value for AMMAN STREET

Amman Street guideline value

The current guideline value of Amman Street in Velampalayam village is Rs 709 per sq.ft, effective from 1 July 2024. This street falls under the Tiruppur Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Amman Street has changed

Over the years, the guideline value of Amman Street has seen significant changes. In the 2007 revision, the guideline value was Rs 300 per sq.ft, which increased to Rs 400 per sq.ft in the 2012 revision. However, it then decreased to Rs 268 per sq.ft in the 2017 revision. The 2023 revision saw a notable increase to Rs 400 per sq.ft, followed by a substantial rise to Rs 709 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

In terms of percentage changes, the guideline value increased by 33% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The jump from 2023 to 2024 was 77%. Overall, from 2007 to 2024, the guideline value has increased by 136%.

Guideline values in Velampalayam

In Velampalayam, there are 472 streets under the Tiruppur Joint II SRO, with 2024 guideline values ranging from Rs 701 to Rs 4,480 per sq.ft. The median guideline value for these streets is Rs 711 per sq.ft, placing Amman Street's 2024 value below this median.

• Amman Nagar Sirupuluvapatti: Rs 711 per sq.ft (2024)
• Amman Nagar 2nd Street: Rs 712 per sq.ft (2024)
• Amman Nagar 1st Street: Rs 712 per sq.ft (2024)
• Amman Nagar: Rs 712 per sq.ft (2024)
• Amsa Vinayagar Kovil Veethi: Rs 712 per sq.ft (2024)
• Anaipalayam: Rs 716 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 709 per sq.ft, the total guideline value amounts to Rs 7,09,000. The stamp duty at 7% would be Rs 49,630, and the registration fee at 2% would be Rs 14,180, bringing the total costs together to Rs 63,810. 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 further calculations.

Which Sub Registrar Office covers Amman Street?

The Sub Registrar Office covering Amman Street is the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Velampalayam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to ensure that they are making informed decisions and complying with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Amman Street?

The current guideline value of Amman Street is Rs 709 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 709 per sq.ft in 2024, showing an overall increase of 136% over the years.

What is the land classification for Amman Street?

Amman Street is classified as Residential Class III Type - I under the Tiruppur Joint II SRO.

What are the stamp duty and registration fees for a property in Amman Street?

For a property valued at Rs 7,09,000, the stamp duty would be Rs 49,630, and the registration fee would be Rs 14,180, totaling Rs 63,810.

Which office handles the registration for Amman Street?

The Tiruppur Joint II Sub Registrar Office handles the registration for Amman Street, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602.