Guideline Value for APARTMENT

Apartment guideline value

The current guideline value for apartments in Ganapathy village, under the Ganapathy SRO, is Rs 3,470 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Apartment has changed

Looking at the revisions over the years, the guideline value for apartments has seen several changes. The 2012 revision recorded a value of Rs 3,100 per sq.ft, which then decreased to Rs 2,077 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,100 per sq.ft in 2023, and then rose again to Rs 3,470 per sq.ft in the 2024 revision. The register has no figure for this street in 2002, 2003, or 2007.

From 2017 to 2023, the increase was 49%, while the jump from 2023 to 2024 was 12%. Overall, the guideline value has increased by 12% from 2012 to 2024. This reflects a notable fluctuation in the values over the years.

Guideline values in Ganapathy

In Ganapathy, there are 324 streets under the Ganapathy SRO that carry a 2024 guideline value ranging from Rs 1,007 to Rs 4,595 per sq.ft, with a median value of Rs 1,120 per sq.ft. The guideline value for apartments in this street is above the median.

• Appaainaidu Layout: Rs 1,400 per sq.ft (2024)
• Appaainaidu Layout.Sivasakthi Colony: Rs 1,400 per sq.ft (2024)
• Appartment: Rs 1,400 per sq.ft (2024)
• Aranmanai Thottam: Rs 1,010 per sq.ft (2024)
• Anna Nagar (Jawahar Nagar): Rs 1,010 per sq.ft (2024)
• Anna Nagar Eastside 1,2,3,4 Street: Rs 1,010 per sq.ft (2024)

Stamp duty and registration fee for property in Apartment

For a 1,000 sq.ft plot at the current guideline value of Rs 3,470 per sq.ft, the total guideline value would be Rs 34,70,000. The stamp duty, charged at 7%, would amount to Rs 2,42,900, while the registration fee at 2% would be Rs 69,400. Together, the total cost for stamp duty and registration would be Rs 3,12,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Apartment?

The Sub Registrar Office covering Apartment is the Ganapathy Sub Registrar Office, located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ganapathy. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately according to the prevailing rates.

When registering a property, buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for apartments in Ganapathy?

The current guideline value for apartments in Ganapathy village is Rs 3,470 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2012 to Rs 2,077 per sq.ft in 2017, then increased to Rs 3,100 per sq.ft in 2023, and finally to Rs 3,470 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Apartment?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 34,70,000. The stamp duty would be Rs 2,42,900 and the registration fee would be Rs 69,400, totaling Rs 3,12,300.

Which Sub Registrar Office covers the Apartment area?

The Ganapathy Sub Registrar Office covers the Apartment area, located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006.

What is the land classification for apartments in Ganapathy?

The land classification for apartments in Ganapathy is Residential Special Type - II, which is relevant for determining the guideline value.