Guideline Value for Ambedhakar Street (70/2)

Ambedhakar Street (70/2) guideline value

The current guideline value of Ambedhakar Street (70/2) is Rs 250 per sq.ft. This street is located in Lakkampatti village, under the Gobichettipalayam Joint I SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ambedhakar Street (70/2) has changed

The guideline value for Ambedhakar Street (70/2) has undergone several revisions over the years. In 2002, the value was Rs 50 per sq.ft, which increased to Rs 56 per sq.ft in 2003, showing a change of +12%. The value further rose to Rs 75 per sq.ft in 2007, marking a significant increase of +34%. In 2012, the guideline value reached Rs 250 per sq.ft, reflecting a substantial increase of +233%. However, it decreased to Rs 167 per sq.ft in 2017, which was a decline of -33%. The guideline value then stabilized at Rs 250 per sq.ft in both 2023 and 2024, with no change from 2023 to 2024.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by +400%.

Guideline values in Lakkampatti

In Lakkampatti, there are 128 streets under the Gobichettipalayam Joint I SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 450 per sq.ft. The median guideline value for these streets is Rs 275 per sq.ft, placing Ambedhakar Street (70/2) below this median.

• Amman Nagar: Rs 250 per sq.ft (2024)
• Agriculture Bank Street: Rs 300 per sq.ft (2024)
• Anna Street (253/3): Rs 250 per sq.ft (2024)
• Aries Muthu Nagar: Rs 250 per sq.ft (2024)
• Arulappar Street: Rs 250 per sq.ft (2024)
• Arunachalagounder Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedhakar Street (70/2)

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, leading to a total cost of Rs 22,500. 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 more detailed calculations.

Which Sub Registrar Office covers Ambedhakar Street (70/2)?

The Sub Registrar Office that covers Ambedhakar Street (70/2) is the Gobichettipalayam Joint I Sub Registrar Office, located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Lakkampatti. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction. The guideline value ensures that the property is assessed at a standardized rate, which helps in maintaining transparency in real estate transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market conditions and property values in the area.

Frequently asked questions

What is the current guideline value of Ambedhakar Street (70/2)?

The current guideline value of Ambedhakar Street (70/2) is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ambedhakar Street (70/2) has changed from Rs 50 per sq.ft in 2002 to Rs 250 per sq.ft in 2024, representing an overall increase of +400%.

What is the registration office for Ambedhakar Street (70/2)?

The registration office for Ambedhakar Street (70/2) is the Gobichettipalayam Joint I Sub Registrar Office, located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone.

How is stamp duty calculated for properties in Lakkampatti?

Stamp duty for properties in Lakkampatti is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 2,50,000 would incur a stamp duty of Rs 17,500 at the rate of 7%.

What is the median guideline value for streets in Lakkampatti?

The median guideline value for streets in Lakkampatti is Rs 275 per sq.ft, with Ambedhakar Street (70/2) being below this median at Rs 250 per sq.ft.