Guideline Value for Aravindar Colony

Aravindar Colony guideline value

The current guideline value of Aravindar Colony in Karamadai village is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Mettupalayam SRO and is classified as Residential Class III Type - I.

How the guideline value of Aravindar Colony has changed

The guideline value for Aravindar Colony has seen several revisions over the years. In 2012, the guideline value was set at Rs 600 per sq.ft. This value then decreased to Rs 402 per sq.ft in the 2017 revision, a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 600 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 660 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the guideline values from 2012 to 2024, there has been a 10% increase.

Guideline values in Karamadai

Karamadai village has a total of 180 streets under the Mettupalayam SRO, with guideline values ranging from Rs 340 to Rs 1,680 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, indicating that the guideline value of Aravindar Colony is below this median.

• Anna Street: Rs 440 per sq.ft (2024)
• Anna Nagar (Ward 19): Rs 800 per sq.ft (2024)
• Anna Nagar (Ward 14): Rs 800 per sq.ft (2024)
• Arunachala Mudhaliyar Street (Ward 14): Rs 800 per sq.ft (2024)
• Anna Mudhaliyar Street (Ward 17): Rs 800 per sq.ft (2024)
• Annamalai Mudhaliyar Street (Ward 16): Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Aravindar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 details.

Which Sub Registrar Office covers Aravindar Colony?

The Mettupalayam Sub Registrar Office covers Aravindar Colony. The office is located at 271-Coimbatore Main Road, Near Mettupapalayam Bustand, Mettupalayam-641301, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Karamadai. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during property transactions. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value helps in determining the legal transaction value of the property, ensuring that all parties involved are aware of the official valuation set by the government. This transparency aids in preventing disputes related to property valuation during the registration process.

Frequently asked questions

What is the current guideline value of Aravindar Colony?

The current guideline value of Aravindar Colony is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Aravindar Colony?

Aravindar Colony is classified as Residential Class III Type - I.

Where can I find the Mettupalayam Sub Registrar Office?

The Mettupalayam Sub Registrar Office is located at 271-Coimbatore Main Road, Near Mettupapalayam Bustand, Mettupalayam-641301, Coimbatore registration zone.

How is stamp duty calculated in Karamadai?

Stamp duty in Karamadai is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.