Guideline Value for Arul Gardens

Arul Gardens guideline value

The current guideline value of Arul Gardens in Kumarapalayam village, under the Coimbatore South Joint 1 SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Arul Gardens has changed

In the 2023 revision, the guideline value was set at Rs 1,850 per sq.ft. This marked an increase from previous years, but the register has no figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street. The latest revision in 2024 shows an increase of 8% from the 2023 figure, bringing the current guideline value to Rs 2,000 per sq.ft.

To summarize the changes, the guideline value increased from Rs 1,850 per sq.ft in 2023 to Rs 2,000 per sq.ft in 2024. The 2024 figure is notable as it exceeds the median value of Rs 1,001 per sq.ft for the 290 streets in Kumarapalayam under the Coimbatore South Joint 1 SRO.

Guideline values in Kumarapalayam

In Kumarapalayam, the guideline values for various streets range from Rs 1,000 to Rs 2,750 per sq.ft, with a median value of Rs 1,001 per sq.ft. Arul Gardens' 2024 guideline value of Rs 2,000 per sq.ft is above this median. Below are the guideline values for other streets in Kumarapalayam:

• Arul Garden Extension: Rs 2,000 per sq.ft (2024)
• Aruljothi Nagar: Rs 1,000 per sq.ft (2024)
• Arumuga Udayar Street: Rs 1,002 per sq.ft (2024)
• Aranganayagam Nager: Rs 1,002 per sq.ft (2024)
• Aranganayagam Nagar Cross Street No.4: Rs 1,002 per sq.ft (2024)
• Aranganayagam Nagar Cross Street No.3: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arul Gardens?

The Sub Registrar Office that covers Arul Gardens is the Coimbatore South Joint 1 Sub Registrar Office, located at No.410a, Raja Street, Coimbatore-641001, 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 Kumarapalayam

The guideline value is a crucial factor during the registration of property transactions in Kumarapalayam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per government regulations. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Arul Gardens?

The current guideline value of Arul Gardens is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Arul Gardens was Rs 1,850 per sq.ft in 2023, which increased to Rs 2,000 per sq.ft in 2024. There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Arul Gardens?

The land classification for Arul Gardens is Residential Special Type - I. This classification is important for determining the usage and development potential of the property.

What are the stamp duty rates applicable in Arul Gardens?

The stamp duty rate applicable in Arul Gardens is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.

Where can I find the Sub Registrar Office for Arul Gardens?

The Sub Registrar Office for Arul Gardens is the Coimbatore South Joint 1 Sub Registrar Office, located at No.410a, Raja Street, Coimbatore-641001. You can find more details online.