Guideline Value for Bazaar Street

Bazaar Street guideline value

The current guideline value of Bazaar Street in Kottuveerampalayam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Sathyamangalam SRO and is classified as Commercial Class I Type - I.

How the guideline value of Bazaar Street has changed

The guideline value for Bazaar Street has undergone several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 1,500 per sq.ft. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for Bazaar Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kottuveerampalayam

In Kottuveerampalayam, there are 17 streets under the Sathyamangalam SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Bazaar Street's 2024 figure above that median.

• Beemar (or) Beemarao Street: Rs 660 per sq.ft (2024)
• Kamatchi Sasthiri Street (or) Kamatchiyar Street: Rs 660 per sq.ft (2024)
• Kottuveerampalayam Kombupallam Part: Rs 825 per sq.ft (2024)
• Kottuveerampalayam Main Road: Rs 825 per sq.ft (2024)
• Mariamman Kovil Street (Padaiyachi Street): Rs 660 per sq.ft (2024)
• Mathimarathurai Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Bazaar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. 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 Bazaar Street?

The Bazaar Street falls under the jurisdiction of the Sathyamangalam Sub Registrar Office, located at No.75, Municipal Primary School, North Street, Atthani Road, Sathyamangalam - 638401, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kottuveerampalayam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bazaar Street?

The current guideline value of Bazaar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Bazaar Street?

Bazaar Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in Bazaar Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Bazaar Street?

The Sub Registrar Office covering Bazaar Street is located at No.75, Municipal Primary School, North Street, Atthani Road, Sathyamangalam - 638401, Coimbatore registration zone.