Guideline Value for BHARATHI IST STREET

Bharathi Ist Street guideline value

The current guideline value of Bharathi Ist Street in Velampalayam village is Rs 711 per sq.ft, effective from 1 July 2024. This street falls under the Tiruppur Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Bharathi Ist Street has changed

The guideline value for Bharathi Ist Street has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in 2017 before rising again to Rs 500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 711 per sq.ft, marking a 42% increase from the previous year.

From 2017 to 2023, there was a 49% increase in the guideline value. The 2012 to 2017 period saw a decrease of 33%, while the jump from 2007 to 2012 was substantial at 233%. Overall, from 2007 to 2024, the guideline value has increased by 374%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velampalayam

In Velampalayam village, there are 472 streets under the Tiruppur Joint II SRO that carry a 2024 guideline value, ranging from Rs 701 to Rs 4,480 per sq.ft. The median guideline value is Rs 711 per sq.ft, which is equal to the current value of Bharathi Ist Street.

• Bharathi Iind Street: Rs 711 per sq.ft (2024)
• Bharathi Iiird Street: Rs 711 per sq.ft (2024)
• Bharathi Nagar: Rs 890 per sq.ft (2024)
• Bharathiar Street: Rs 890 per sq.ft (2024)
• Best Road: Rs 715 per sq.ft (2024)
• Bharathi Puram: Rs 890 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 711 per sq.ft, the total guideline value would be Rs 7,11,000. The stamp duty at 7% would amount to Rs 49,770, and the registration fee at 2% would be Rs 14,220, totaling Rs 63,990. 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 more details.

Which Sub Registrar Office covers Bharathi Ist Street?

The Bharathi Ist Street is covered by the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, 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 Velampalayam

The guideline value is a crucial factor in property transactions in Velampalayam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements during registration.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathi Ist Street?

The current guideline value of Bharathi Ist Street is Rs 711 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 711 per sq.ft in 2024, reflecting various revisions over the years.

What is the registration office for Bharathi Ist Street?

The registration office covering Bharathi Ist Street is the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602.

How is stamp duty calculated for properties in Bharathi Ist Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 49,770.

Are there other streets with the same guideline value in Velampalayam?

Yes, there are other streets in Velampalayam with the same guideline value of Rs 711 per sq.ft, including Bharathi Iind Street and Bharathi Iiird Street.