Guideline Value for Bazar Street (Kadai Veethi)

Bazar Street (Kadai Veethi) guideline value

The current guideline value of Bazar Street (Kadai Veethi) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Ward 2 village under the Pollachi SRO, classified as Commercial Special Type - I.

How the guideline value of Bazar Street (Kadai Veethi) has changed

The guideline value for Bazar Street (Kadai Veethi) has undergone several revisions over the years. The register shows the following figures: in 2003, the value was Rs 1,232 per sq.ft, which increased to Rs 1,555 per sq.ft in 2007. This was followed by a rise to Rs 2,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,675 per sq.ft. The most recent revisions recorded the value at Rs 2,500 per sq.ft in both 2023 and 2024, reflecting no change between these two years.

From 2003 to 2024, the overall change in guideline value is +103%. Notably, the increase from 2017 to 2023 was +49%, while the change from 2012 to 2017 was a decrease of -33%. The increase from 2007 to 2012 was +61%, and from 2003 to 2007 was +26%. The register has no figure for this street for the year 2002.

Guideline values in Ward 2

In Ward 2, there are 79 streets under the Pollachi SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,500 per sq.ft. The median guideline value in this ward is Rs 420 per sq.ft, placing Bazar Street (Kadai Veethi) above this median.

• Batza Sahip Street: Rs 541 per sq.ft (2024)
• Balaji Nagar: Rs 420 per sq.ft (2024)
• A.V.V.S.Colony: Rs 302 per sq.ft (2024)
• Arumugam Pillai Street: Rs 541 per sq.ft (2024)
• Arumugam Gounder Colony: Rs 420 per sq.ft (2024)
• Arul Vadivel Kannapuram: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Bazar Street (Kadai Veethi)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. 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 information.

Which Sub Registrar Office covers Bazar Street (Kadai Veethi)?

The Sub Registrar Office that covers Bazar Street (Kadai Veethi) is the Pollachi Sub Registrar Office, located at No.104, Taluk Office Campus, Coimbatore Road, Pollachi - 642 001, Coimbatore registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ward 2

The guideline value is a crucial factor in property transactions within Ward 2. It determines the minimum value at which properties are assessed for stamp duty and registration fees during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When purchasing or selling property, the guideline value helps in calculating the applicable fees. It is essential for both parties to understand that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Bazar Street (Kadai Veethi)?

The current guideline value of Bazar Street (Kadai Veethi) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 reflecting no change from 2023. The value has increased from Rs 1,232 per sq.ft in 2003 to Rs 2,500 per sq.ft in 2024, representing an overall increase of +103%.

What is the land classification of Bazar Street (Kadai Veethi)?

Bazar Street (Kadai Veethi) is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Bazar Street (Kadai Veethi)?

The Sub Registrar Office covering Bazar Street (Kadai Veethi) is located at No.104, Taluk Office Campus, Coimbatore Road, Pollachi - 642 001, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.