Guideline Value for Ara Gounder Street

Ara Gounder Street guideline value

The current guideline value of Ara Gounder Street is Rs 1,010 per sq.ft, effective from 1 July 2024. This street is located in Sowripalayam village under the Peelamedu SRO and is classified as Residential Class II Type - III.

How the guideline value of Ara Gounder Street has changed

The guideline value for Ara Gounder Street has undergone several revisions over the years. In 2007, the guideline value was Rs 553 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking an increase of 81%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,010 per sq.ft, a 1% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Sowripalayam

In Sowripalayam village, there are 186 streets under the Peelamedu SRO, with guideline values ranging from Rs 1,000 to Rs 7,800 per sq.ft. The median guideline value for these streets is Rs 2,300 per sq.ft, placing Ara Gounder Street's 2024 figure below that median.

• Appulu Ayyar Road or Lane: Rs 2,300 per sq.ft (2024)
• Arumuga Gounder Street: Rs 3,520 per sq.ft (2024)
• Anna Nagar: Rs 3,520 per sq.ft (2024)
• Annamar Kovil Street (Peelamedu Pudhur): Rs 2,300 per sq.ft (2024)
• Annamalai Nagar: Rs 2,300 per sq.ft (2024)
• Annai Velankanni Nagar: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ara Gounder Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,010 per sq.ft, the total guideline value amounts to Rs 10,10,000. The stamp duty at 7% would be Rs 70,700, while the registration fee at 2% would be Rs 20,200, bringing the total cost for these charges to Rs 90,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ara Gounder Street?

The Sub Registrar Office that covers Ara Gounder Street is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sowripalayam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the property is registered at a value that reflects its market standing.

When a property transaction occurs, the guideline value helps determine the official value of the property for legal and taxation purposes. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Ara Gounder Street?

The current guideline value of Ara Gounder Street is Rs 1,010 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 553 per sq.ft in 2007 to Rs 1,010 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

What are the other streets in Sowripalayam with their guideline values?

Other streets in Sowripalayam include Appulu Ayyar Road or Lane at Rs 2,300 per sq.ft, Arumuga Gounder Street at Rs 3,520 per sq.ft, and Anna Nagar at Rs 3,520 per sq.ft, among others.

What fees are associated with buying property in Ara Gounder Street?

When buying property in Ara Gounder Street, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 90,900.

Where can I find the Sub Registrar Office for Ara Gounder Street?

The Sub Registrar Office for Ara Gounder Street is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18.