Guideline Value for Aries Muthu Nagar

Aries Muthu Nagar guideline value

The current guideline value of Aries Muthu Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This locality is situated in Lakkampatti village, under the Gobichettipalayam Joint I SRO, and is classified as Residential Class I Type - II.

How the guideline value of Aries Muthu Nagar has changed

Over the years, the guideline value of Aries Muthu Nagar has seen several revisions. The 2007 revision set the value at Rs 75 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. Following this, the value remained unchanged until the 2017 revision, which raised it to Rs 167 per sq.ft, marking a 50% increase. However, it reverted back to Rs 250 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

The revisions for the years 2002 and 2003 do not have figures recorded for this street. Overall, from 2007 to 2024, there has been a substantial increase of 233% in the guideline value.

Guideline values in Lakkampatti

In Lakkampatti, there are 128 streets under the Gobichettipalayam Joint I SRO, with guideline values ranging from Rs 200 to Rs 450 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing the guideline value of Aries Muthu Nagar below this median.

• Arulappar Street: Rs 250 per sq.ft (2024)
• Anna Street (253/3): Rs 250 per sq.ft (2024)
• Arunachalagounder Street: Rs 300 per sq.ft (2024)
• Arunachalam Nagar(134,2,6,8): Rs 250 per sq.ft (2024)
• Ashok Nagar: Rs 300 per sq.ft (2024)
• Aviayar Street (84): Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Aries Muthu Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty, calculated at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aries Muthu Nagar?

The Sub Registrar Office that covers Aries Muthu Nagar 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 plays a crucial role in the registration process when buying or selling property in Lakkampatti. It is used to determine the stamp duty and registration fees applicable on the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Aries Muthu Nagar?

The current guideline value of Aries Muthu Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from Rs 75 per sq.ft in 2007 to Rs 250 per sq.ft in 2012. The value remained at Rs 250 per sq.ft until the 2017 revision, which set it at Rs 167 per sq.ft, before reverting back to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification of Aries Muthu Nagar?

Aries Muthu Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development within the area.

What are the stamp duty and registration fees for property in Aries Muthu Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Aries Muthu Nagar?

The Gobichettipalayam Joint I Sub Registrar Office handles registrations for Aries Muthu Nagar. It is located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone.