Guideline Value for Bank Road

Bank Road guideline value

The current guideline value of Bank Road in Koogaloor village is Rs 205 per sq.ft, effective from 1 July 2024. This area falls under the Gobichettipalayam Joint II SRO and is classified as Residential Special Type - III.

How the guideline value of Bank Road has changed

The guideline value for Bank Road has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 50 per sq.ft. This increased to Rs 100 per sq.ft in 2012, but then saw a significant decrease to Rs 67 per sq.ft in 2017. Following this, the value rose dramatically to Rs 200 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 205 per sq.ft, marking a 3% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 310%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koogaloor

In Koogaloor, there are 107 streets under the Gobichettipalayam Joint II SRO that carry a 2024 guideline value ranging from Rs 205 to Rs 205 per sq.ft, with the median also at Rs 205 per sq.ft. Bank Road's 2024 figure aligns with this median. Below are other streets in Koogaloor:

• Bharathi Nagar: Rs 205 per sq.ft (2024)
• Bagavathi Street: Rs 205 per sq.ft (2024)
• Ashokmetha Street: Rs 205 per sq.ft (2024)
• Arumaikarrar Street: Rs 205 per sq.ft (2024)
• Arumaikarar kaliannan Street: Rs 205 per sq.ft (2024)
• Appachi Street: Rs 205 per sq.ft (2024)

Stamp duty and registration fee for property in Bank Road

For a 1,000 sq.ft plot at the current rate of Rs 205 per sq.ft, the guideline value amounts to Rs 2,05,000. The stamp duty at 7% would be Rs 14,350, and the registration fee at 2% would be Rs 4,100, leading to a total of Rs 18,450. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bank Road?

The Sub Registrar Office that covers Bank Road is the Gobichettipalayam Joint II Sub Registrar Office, located at Integrated Registration Complex, 81-old Hospital Road, Near Market, Gobichettipalayam-638452, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is crucial during property registration as it determines the amount of stamp duty and registration fees that must be paid. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately assess the costs involved in property transactions.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for buyers to be aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Bank Road?

The current guideline value of Bank Road is Rs 205 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 205 per sq.ft in 2024, reflecting an overall increase of 310% over the years.

What is the land classification for Bank Road?

Bank Road is classified as Residential Special Type - III under the Gobichettipalayam Joint II SRO.

Where can I find the Sub Registrar Office for Bank Road?

The Gobichettipalayam Joint II Sub Registrar Office is located at Integrated Registration Complex, 81-old Hospital Road, Near Market, Gobichettipalayam-638452, Coimbatore registration zone.

How is stamp duty calculated for properties in Bank Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 205 per sq.ft would incur a total of Rs 18,450 in fees, including stamp duty and registration fees.