Guideline Value for Avarampalayam Street 3

Avarampalayam Street 3 guideline value

The current guideline value of Avarampalayam Street 3 is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Sowripalayam village under the Peelamedu SRO, classified as Residential Special Type - I.

How the guideline value of Avarampalayam Street 3 has changed

The guideline value for Avarampalayam Street 3 has experienced several revisions over the years. Starting from the 2007 revision, the value was Rs 507 per sq.ft, which saw a significant increase to Rs 3,500 per sq.ft in the 2012 revision. However, this value dropped to Rs 2,345 per sq.ft in the 2017 revision, before rising again to Rs 3,500 per sq.ft in the 2023 revision and finally reaching Rs 3,850 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 590% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has risen by 659%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sowripalayam

In Sowripalayam, there are 186 streets under the Peelamedu SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 7,800 per sq.ft. The median value for these streets is Rs 2,300 per sq.ft, making Avarampalayam Street 3's 2024 figure of Rs 3,850 per sq.ft above the median.

• Avarampalayam Street 1 & 2: Rs 3,850 per sq.ft (2024)
• Avarampalayam Street 4 (Gandhi Nagar): Rs 3,850 per sq.ft (2024)
• Avinashi Road: Rs 6,600 per sq.ft (2024)
• Ayyal Naidu Street: Rs 2,300 per sq.ft (2024)
• Ashok Street: Rs 2,300 per sq.ft (2024)
• Ayyappa Naidu Street(Peelamedu Pudhur): Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Avarampalayam Street 3

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 Avarampalayam Street 3?

The Sub Registrar Office that covers Avarampalayam Street 3 is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, within 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 an essential factor when registering property transactions in Sowripalayam. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Avarampalayam Street 3?

The current guideline value of Avarampalayam Street 3 is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 507 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024. The value has seen various increases and decreases across different revisions.

What is the land classification for Avarampalayam Street 3?

Avarampalayam Street 3 is classified as Residential Special Type - I. This classification affects the guideline value and potential uses of the land.

Where is the Peelamedu Sub Registrar Office located?

The Peelamedu Sub Registrar Office is located at 6/1, Grd Road, Redfields, Coimbatore - 18. This office handles property registrations for Avarampalayam Street 3.

How is stamp duty calculated for properties in Avarampalayam Street 3?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.