Guideline Value for ARCK RESIDENCY

Arck Residency guideline value

The current guideline value of Arck Residency is Rs 1,050 per sq.ft, effective from 1 July 2024. This property is located in Veerapandi village, under the Periyanayakkan Palayam SRO, and is classified as Residential Class II Type - IV.

How the guideline value of Arck Residency has changed

The guideline value for Arck Residency has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 950 per sq.ft. The most recent revision in 2024 increased this value to Rs 1,050 per sq.ft, marking an increase of 11% from the previous year.

From the 2023 to 2024 revision, the guideline value rose from Rs 950 to Rs 1,050 per sq.ft. This increase reflects the current market conditions for properties in the area, with the 2024 figure being higher than the median value of Rs 330 per sq.ft for the 201 streets in Veerapandi under the Periyanayakkan Palayam SRO.

Guideline values in Veerapandi

In Veerapandi, the guideline values range from Rs 220 to Rs 1,050 per sq.ft as per the 2024 revision, with a median value of Rs 330 per sq.ft. The guideline value for Arck Residency is above this median, indicating a higher valuation for this street compared to others in the village.

• Archana Layout: Rs 610 per sq.ft (2024)
• Arasamarathu Kinaru Street: Rs 220 per sq.ft (2024)
• Arivolli Nagar (Ward No.3): Rs 220 per sq.ft (2024)
• Arivolli Nagar (Ward No.4): Rs 220 per sq.ft (2024)
• Aruljothi Nagar: Rs 390 per sq.ft (2024)
• Anna Nagar (Ward No 7): Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Arck Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 1,050 per sq.ft, the total guideline value amounts to Rs 10,50,000. The stamp duty at 7% would be Rs 73,500, and the registration fee at 2% would be Rs 21,000, bringing the total cost for these fees to Rs 94,500. 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 additional calculations.

Which Sub Registrar Office covers Arck Residency?

The Sub Registrar Office that covers Arck Residency is the Periyanayakkan Palayam Sub Registrar Office, located at No.171, kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020, 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 Veerapandi

The guideline value is a crucial factor when buying or selling property in Veerapandi, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate stamp duty and registration fees, ensuring that the transaction is documented accurately and fairly.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it will influence the overall cost of the transaction, including additional fees. Buyers and sellers should consider this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Arck Residency?

The current guideline value of Arck Residency is Rs 1,050 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 950 per sq.ft in 2023 to Rs 1,050 per sq.ft in 2024, representing an 11% increase.

What is the land classification of Arck Residency?

Arck Residency is classified as Residential Class II Type - IV under the current guidelines.

Where is the Periyanayakkan Palayam Sub Registrar Office located?

The Periyanayakkan Palayam Sub Registrar Office is located at No.171, kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions.