Guideline Value for Arijana Colony 2

Arijana Colony 2 guideline value

The current guideline value of Arijana Colony 2 is Rs 225 per sq.ft, effective from 1 July 2024. This property is located in Chennimalai village, under the Chennimalai SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Arijana Colony 2 has changed

The guideline value for Arijana Colony 2 has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 266 per sq.ft. It then decreased to Rs 27 per sq.ft in 2003, followed by an increase to Rs 30 per sq.ft in 2007. The value saw a significant rise to Rs 100 per sq.ft in 2012, but then dropped to Rs 67 per sq.ft in 2017. The 2023 revision marked another increase to Rs 200 per sq.ft, and the most recent 2024 revision set the guideline value at Rs 225 per sq.ft.

From 2023 to 2024, the guideline value increased by 13%. The period from 2017 to 2023 saw a substantial increase of 199%. However, from 2012 to 2017, there was a decrease of 33%. The value rose by 233% from 2007 to 2012, and there was an increase of 11% from 2003 to 2007. Notably, the overall change from 2002 to 2024 reflects a decrease of 15%.

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, with the median value being Rs 340 per sq.ft. The guideline value for Arijana Colony 2 is below this median.

• Arachaloor Road: Rs 920 per sq.ft (2024)
• Appar Street: Rs 510 per sq.ft (2024)
• Appai Chettiar Street: Rs 340 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 Arijana Colony 2

For a 1,000 sq.ft plot at the current guideline value of Rs 225 per sq.ft, the total guideline value amounts to Rs 2,25,000. The stamp duty at 7% would be Rs 15,750, and the registration fee at 2% would be Rs 4,500, totaling Rs 20,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Arijana Colony 2?

The Sub Registrar Office that covers Arijana Colony 2 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 determining the minimum value at which properties can be registered, ensuring that the registration reflects a fair value for the property being sold or purchased.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Arijana Colony 2?

The current guideline value of Arijana Colony 2 is Rs 225 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 266 per sq.ft in 2002 to Rs 225 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Arijana Colony 2?

Arijana Colony 2 falls under the Residential Class II Type - I land classification.

Where can I find the Chennimalai Sub Registrar Office?

The Chennimalai Sub Registrar Office 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 Arijana Colony 2?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 15,750.