Guideline Value for Bazar Street

Bazar Street guideline value

The current guideline value of Bazar Street in Ward 10, Peelamedu SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Bazar Street has changed

The guideline value for Bazar Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% change.

There are no figures available for Bazar Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Ward 10

In Ward 10, there are 224 streets under the Peelamedu SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bazar Street's 2024 guideline value aligns with this median.

• Balasundaram Road: Rs 4,950 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,320 per sq.ft (2024)
• Bharathipuram Huts: Rs 1,320 per sq.ft (2024)
• Bharathipuram Road: Rs 1,320 per sq.ft (2024)
• Balaji Nagar (or) Road: Rs 2,200 per sq.ft (2024)
• Bharathiyar Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bazar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bazar Street?

The Sub Registrar Office that covers Bazar Street is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, within the Coimbatore registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ward 10

The guideline value is used as a benchmark during property registration in Ward 10. It helps determine the stamp duty and registration fees that buyers must pay when executing property transactions.

When buying or selling property, the guideline value ensures that the transaction is registered at a value that reflects the current market standards, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Bazar Street?

The current guideline value of Bazar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bazar Street has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Bazar Street?

Bazar Street is classified under Residential Class I Type - III, which indicates its suitability for residential purposes.

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

The Peelamedu Sub Registrar Office, which covers Bazar Street, is located at 6/1, Grd Road, Redfields, Coimbatore - 18.

How is stamp duty calculated for property in Bazar Street?

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 2,200 per sq.ft would incur a stamp duty of Rs 1,54,000.