Guideline Value for Apartment Street

Apartment Street guideline value

The current guideline value of Apartment Street in Kavundampalayam village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Vadavalli SRO and is classified as Residential Class I Type - II.

How the guideline value of Apartment Street has changed

The guideline value for Apartment Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, reflecting a rise of 87%. The current guideline value of Rs 1,000 per sq.ft from the 2024 revision shows no change from the previous year.

There are no figures recorded for Apartment Street in the revisions for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 25%.

Guideline values in Kavundampalayam

In Kavundampalayam, there are a total of 565 streets under the Vadavalli SRO, with guideline values ranging from Rs 1,000 to Rs 4,405 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which is the same as the current value for Apartment Street.

• Anna Street- Gandhi Nagar: Rs 1,020 per sq.ft (2024)
• Annapoorani Nagar: Rs 1,325 per sq.ft (2024)
• Anna Nagar (ward 9): Rs 1,325 per sq.ft (2024)
• Aravindh Nagar: Rs 1,325 per sq.ft (2024)
• Archana Gardens: Rs 1,000 per sq.ft (2024)
• Anna Nagar (MTP Road): Rs 1,020 per sq.ft (2024)

Stamp duty and registration fee for property in Apartment Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total cost for stamp duty and registration fees Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Apartment Street?

The Sub Registrar Office that covers Apartment Street is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046, 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 Kavundampalayam

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to note that the final registration costs will depend on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Apartment Street?

The current guideline value of Apartment Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and remains at Rs 1,000 per sq.ft in 2024.

What is the registration fee for property in Apartment Street?

The registration fee for property in Apartment Street is calculated based on the guideline value. For a property valued at Rs 10,00,000, the registration fee would be Rs 20,000 at 2%.

What is the role of the Vadavalli SRO?

The Vadavalli SRO is responsible for registering property transactions in the area, ensuring compliance with legal requirements and collecting applicable stamp duties and registration fees.

How can I calculate the stamp duty for my property?

You can calculate the stamp duty for your property using the stamp duty and registration fee calculator available on our website.