Guideline Value for Bazar Street (Market to Uppiliyar Street Ext)(339)

Bazar Street (Market to Uppiliyar Street Ext)(339) guideline value

The current guideline value of Bazar Street (Market to Uppiliyar Street Ext)(339) is Rs 1,150 per sq.ft, effective from 1 July 2024. This street is located in Varathampalayam village and falls under the Sathyamangalam SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Bazar Street (Market to Uppiliyar Street Ext)(339) has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 670 per sq.ft, marking a drop of 33%. However, in the 2023 revision, the guideline value increased significantly to Rs 1,000 per sq.ft, and then further rose to Rs 1,150 per sq.ft in the 2024 revision, reflecting a 15% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 15%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Varathampalayam

In Varathampalayam, there are 16 streets under the Sathyamangalam SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 1,650 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, and Bazar Street (Market to Uppiliyar Street Ext)(339) has a 2024 figure that is above this median.

• Bazar Street (North Pettai Road Ext Manikoondu to Market)(349): Rs 1,650 per sq.ft (2024)
• Bazar Street (Uppiliyar Street to Mariamman Kovil Ext)(336,334,333): Rs 770 per sq.ft (2024)
• Bathrakaliamman Kovil Street (Market Ext to Mariamman Kovil Ext)(348,349): Rs 825 per sq.ft (2024)
• Bathrakaliamman Kovil Kilamel Street No.2 (Bathrakaliamman Kovil to Pallam)(325,341,305,332,331,328): Rs 825 per sq.ft (2024)
• Bathrakaliamman Kovil Kilamel Street No.1 (Mariamman Kovil Street Ext to Thoppar Colony)(340,339,341): Rs 825 per sq.ft (2024)
• Bathrakaliamman Kovil (Ext to Nirmala Theatre)(341,347): Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Bazar Street (Market to Uppiliyar Street Ext)(339)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,150 per sq.ft, the total guideline value amounts to Rs 11,50,000. The stamp duty at 7% would be Rs 80,500, and the registration fee at 2% would be Rs 23,000, bringing the total cost for these fees to Rs 1,03,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bazar Street (Market to Uppiliyar Street Ext)(339)?

The Bazar Street (Market to Uppiliyar Street Ext)(339) 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 Varathampalayam

The guideline value is a crucial factor during the registration process when buying or selling property in Varathampalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair price.

When a buyer and seller agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bazar Street (Market to Uppiliyar Street Ext)(339)?

The current guideline value of Bazar Street (Market to Uppiliyar Street Ext)(339) is Rs 1,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,150 per sq.ft in 2024.

What is the land classification for Bazar Street (Market to Uppiliyar Street Ext)(339)?

The land classification for Bazar Street (Market to Uppiliyar Street Ext)(339) is Commercial Class I Type - II.

Where is the Sathyamangalam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Varathampalayam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,50,000, the stamp duty would be Rs 80,500 at a rate of 7%.