Guideline Value for Bharathi Nagar or Colony

Bharathi Nagar or Colony guideline value

The current guideline value of Bharathi Nagar or Colony in Sowripalayam village, under the Peelamedu SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Bharathi Nagar or Colony has changed

Since the 2002 revision, the guideline value for Bharathi Nagar or Colony has seen significant changes. In 2002, the value was Rs 367 per sq.ft, which increased to Rs 550 in 2003, marking a 50% rise. The value then slightly increased to Rs 553 in 2007, representing a 1% change. However, a substantial jump occurred in 2012 when the value reached Rs 4,500 per sq.ft, reflecting a 714% increase from 2007. This was followed by a decrease to Rs 3,015 in 2017, a decline of 33%.

In the subsequent revisions, the guideline value rose to Rs 4,500 in 2023, and then to Rs 4,950 in 2024, indicating a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1249%.

Guideline values in Sowripalayam

Sowripalayam village features 186 streets under the Peelamedu SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 7,800 per sq.ft. The median value for the area is Rs 2,300 per sq.ft, positioning Bharathi Nagar or Colony above this median. Below are the guideline values for other streets in Sowripalayam:

• Blake Mariamman Kovil Street: Rs 2,300 per sq.ft (2024)
• Balathandayuthapuram (Sowripalayam): Rs 2,300 per sq.ft (2024)
• Balakrishnan Street: Rs 2,300 per sq.ft (2024)
• Baladhandayutham Nagar: Rs 1,350 per sq.ft (2024)
• Ayyar Road: Rs 2,300 per sq.ft (2024)
• Ayyappa Naidu Street(Peelamedu Pudhur): Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar or Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar or Colony?

The Sub Registrar Office that covers Bharathi Nagar or Colony is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Sowripalayam. It determines the minimum value at which a property can be registered, ensuring that all transactions are conducted at a legally recognized value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bharathi Nagar or Colony?

The current guideline value of Bharathi Nagar or Colony is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 367 in 2002 to Rs 4,950 in 2024, reflecting an overall increase of 1249% over the years.

What are the stamp duty rates for property transactions in this area?

The stamp duty for property transactions in Bharathi Nagar or Colony is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathi Nagar or Colony?

The Peelamedu Sub Registrar Office covers Bharathi Nagar or Colony and is located at 6/1, Grd Road, Redfields, Coimbatore - 18.

What are the guideline values for other streets in Sowripalayam?

Other streets in Sowripalayam have varying guideline values, with rates ranging from Rs 1,000 to Rs 7,800 per sq.ft. For example, Blake Mariamman Kovil Street and Balathandayuthapuram (Sowripalayam) both have a guideline value of Rs 2,300 per sq.ft in 2024.