Guideline Value for BIG BAZAAR STREET

Big Bazaar Street guideline value

The current guideline value of Big Bazaar Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ward - C village under the Udumalpettai SRO, classified as Residential Class IV Type - I.

How the guideline value of Big Bazaar Street has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure decreased to Rs 402 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, followed by another increase to Rs 660 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 10%. The increase from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023 represents a substantial rise of 49%.

Guideline values in Ward - C

In Ward - C, there are 106 streets under the Udumalpettai SRO with a 2024 guideline value ranging from Rs 380 to Rs 2,020 per sq.ft. The median value in this ward is Rs 475 per sq.ft, placing Big Bazaar Street's 2024 figure above that median.

• Bhajanai Kovil Lane: Rs 475 per sq.ft (2024)
• Bazeer Ahamad Colony& Layout: Rs 660 per sq.ft (2024)
• Bathrakaliamman Lane: Rs 475 per sq.ft (2024)
• Avvayar Lane: Rs 1,800 per sq.ft (2024)
• Boyar Street: Rs 475 per sq.ft (2024)
• Arulmozhi Lane: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Big Bazaar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. 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 Big Bazaar Street?

The Sub Registrar Office that covers Big Bazaar Street is the Udumalpettai Sub Registrar Office, located at 21, Katcheri Street, Taluk Office Campus, Udumalpet-642126, Coimbatore registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ward - C

The guideline value plays a crucial role in the registration process of properties in Ward - C. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives its due revenue during property transactions.

When buying or selling property, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that all transactions are recorded at a fair value, preventing undervaluation and tax evasion.

Frequently asked questions

What is the current guideline value of Big Bazaar Street?

The current guideline value of Big Bazaar Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Big Bazaar Street?

Big Bazaar Street is classified as Residential Class IV Type - I under the Udumalpettai SRO.

Where can I find the registration office for Big Bazaar Street?

The registration office for Big Bazaar Street is the Udumalpettai Sub Registrar Office, located at 21, Katcheri Street, Taluk Office Campus, Udumalpet-642126, Coimbatore registration zone.

How is stamp duty calculated for properties in Big Bazaar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.