Guideline Value for Bazar Street

Bazar Street guideline value

The current guideline value of Bazar Street in Ward 6 village under the Pollachi SRO is Rs 2,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Bazar Street has changed

The guideline value for Bazar Street has undergone several revisions over the years. In 2002, the value was Rs 1,179 per sq.ft, which increased to Rs 1,312 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,555 per sq.ft in 2007, an increase of 19%. By 2012, the value was revised to Rs 2,500 per sq.ft, reflecting a significant increase of 61%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The most recent revisions in 2023 and 2024 maintained the guideline value at Rs 2,500 per sq.ft, showing no change.

Overall, from 2002 to 2024, the guideline value has increased by 112%. The register has no figure for the years not mentioned in this summary.

Guideline values in Ward 6

In Ward 6, there are 24 streets under the Pollachi SRO with a 2024 guideline value ranging from Rs 541 to Rs 2,500 per sq.ft. The median value is Rs 1,463 per sq.ft, making Bazar Street's 2024 figure above this median.

• Banglow Road: Rs 2,500 per sq.ft (2024)
• Chathiram Street: Rs 2,500 per sq.ft (2024)
• Imamkan Steet: Rs 1,345 per sq.ft (2024)
• Kalingarayar Street: Rs 990 per sq.ft (2024)
• Kanagarayar Street: Rs 1,850 per sq.ft (2024)
• Kandhasamy Lane: Rs 911 per sq.ft (2024)

Stamp duty and registration fee for property in Bazar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the 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, totaling Rs 2,25,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bazar Street?

The Sub Registrar Office that covers Bazar Street 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 information.

How the guideline value is used when you buy or sell in Ward 6

The guideline value is an essential factor in the registration process when buying or selling property in Ward 6. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value serves as a baseline for calculating these fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Bazar Street?

The current guideline value of Bazar Street 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, starting from Rs 1,179 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 112% over the period.

What is the land classification for Bazar Street?

Bazar Street is classified as Commercial Special Type - I, which influences its guideline value.

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

The Sub Registrar Office for Bazar Street is located at No.104, Taluk Office Campus, Coimbatore Road, Pollachi - 642 001, Coimbatore registration zone.

How is stamp duty calculated for properties in Bazar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,500 per sq.ft, the total stamp duty would be Rs 1,75,000.