Guideline Value for Arumuga Gounder Street

Arumuga Gounder Street guideline value

The current guideline value of Arumuga Gounder Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Sowripalayam village and falls under the Peelamedu SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Arumuga Gounder Street has changed

The guideline value for Arumuga Gounder Street has undergone several revisions over the years. In 2007, the guideline value was Rs 710 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012. However, the value then dropped to Rs 2,144 per sq.ft in 2017. Following this, the guideline value rose sharply to Rs 3,200 per sq.ft in 2023, before reaching the current value of Rs 3,520 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The change from 2012 to 2017 saw a decrease of 33%. The most significant change occurred from 2007 to 2012, with an increase of 351%. Overall, from 2007 to 2024, the guideline value has increased by 396%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sowripalayam

Sowripalayam village has a total of 186 streets under the Peelamedu SRO that carry a guideline value for 2024, 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 Arumuga Gounder Street's 2024 figure above that median.

• Ashok Street: Rs 2,300 per sq.ft (2024)
• Ara Gounder Street: Rs 1,010 per sq.ft (2024)
• Appulu Ayyar Road or Lane: Rs 2,300 per sq.ft (2024)
• Avarampalayam Street 1 & 2: Rs 3,850 per sq.ft (2024)
• Avarampalayam Street 3: Rs 3,850 per sq.ft (2024)
• Avarampalayam Street 4 (Gandhi Nagar): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga Gounder Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Together, the total cost for stamp duty and registration would be Rs 3,16,800. 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 further assistance.

Which Sub Registrar Office covers Arumuga Gounder Street?

The Sub Registrar Office that covers Arumuga 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 information.

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

The guideline value is a crucial factor when buying or selling property in Sowripalayam. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is typically used to assess the value of the property for taxation purposes.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for maintaining transparency in real estate transactions. This value is particularly important for both buyers and sellers to understand, as it directly impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Arumuga Gounder Street?

The current guideline value of Arumuga Gounder Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 710 per sq.ft to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 396% over the years.

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

Other streets in Sowripalayam include Ashok Street at Rs 2,300 per sq.ft, Ara Gounder Street at Rs 1,010 per sq.ft, and Avarampalayam Street 1 & 2 at Rs 3,850 per sq.ft, among others.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7% of the guideline value or the sale price, whichever is higher.

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

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