Guideline Value for Appai Chettiar Street

Appai Chettiar Street guideline value

The current guideline value of Appai Chettiar Street is Rs 340 per sq.ft, effective from 1 July 2024. This street is located in Chennimalai village, under the Chennimalai SRO, and is classified as Residential Class I Type - III.

How the guideline value of Appai Chettiar Street has changed

The guideline value for Appai Chettiar Street has seen several revisions over the years. In 2002, the value was Rs 371 per sq.ft, which then decreased to Rs 113 per sq.ft in 2003. Following this, the value increased to Rs 125 per sq.ft in 2007, and then saw a significant rise to Rs 300 per sq.ft in 2012. However, it dropped again to Rs 201 per sq.ft in 2017. The value was Rs 300 per sq.ft in 2023 before reaching the current rate of Rs 340 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 13% increase. Notably, the value decreased by 33% from 2012 to 2017, and there was a remarkable 140% increase from 2007 to 2012. The overall change from 2002 to 2024 shows a decrease of 8%.

Guideline values in Chennimalai

In Chennimalai, there are 71 streets under the Chennimalai SRO that carry a 2024 guideline value ranging from Rs 225 to Rs 920 per sq.ft. The median value is Rs 340 per sq.ft, which is the same as the current guideline value for Appai Chettiar Street.

• Appar Street: Rs 510 per sq.ft (2024)
• Arachaloor Road: Rs 920 per sq.ft (2024)
• Arijana Colony 2: Rs 225 per sq.ft (2024)
• Agragara Street: Rs 340 per sq.ft (2024)
• Cheran Street: Rs 510 per sq.ft (2024)
• Chidambaram pillai Street: Rs 340 per sq.ft (2024)

Stamp duty and registration fee for property in Appai Chettiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 340 per sq.ft, the total guideline value would be Rs 3,40,000. The stamp duty at 7% would amount to Rs 23,800, and the registration fee at 2% would be Rs 6,800, bringing the total to Rs 30,600. It is important to note that the 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 Appai Chettiar Street?

The Sub Registrar Office that covers Appai Chettiar Street is the Chennimalai Sub Registrar Office, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chennimalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value helps determine the official value of the property for registration purposes. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Appai Chettiar Street?

The current guideline value of Appai Chettiar Street is Rs 340 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 371 per sq.ft in 2002, dropping to Rs 113 per sq.ft in 2003, and fluctuating to the current value of Rs 340 per sq.ft in 2024.

What is the land classification of Appai Chettiar Street?

Appai Chettiar Street is classified as Residential Class I Type - III, which indicates its designation for residential use.

Where is the Sub Registrar Office for Appai Chettiar Street located?

The Sub Registrar Office for Appai Chettiar Street is located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051, Coimbatore registration zone.

How is the stamp duty calculated for properties in Appai Chettiar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 3,40,000, the stamp duty would be Rs 23,800 at a rate of 7%.