Guideline Value for Big Bazar Street Backside

Big Bazar Street Backside guideline value

The current guideline value of Big Bazar Street Backside is Rs 1,820 per sq.ft, effective from 1 July 2024. This street is located in Dharapuram Ward 3 village, under the Dharapuram SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Big Bazar Street Backside has changed

The guideline value for Big Bazar Street Backside has seen significant changes over the years. In 2002, the guideline value was Rs 296 per sq.ft, which increased to Rs 327 per sq.ft in 2003. Following this, the value experienced a substantial rise of 405% to reach Rs 1,650 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,105 per sq.ft in 2017. The value increased again to Rs 1,650 per sq.ft in 2023, before reaching the current figure of Rs 1,820 per sq.ft in 2024, marking a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2007 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 515%.

Guideline values in Dharapuram Ward 3

In Dharapuram Ward 3, there are 31 streets that carry a 2024 guideline value, ranging from Rs 510 to Rs 1,820 per sq.ft. The median guideline value for these streets is Rs 575 per sq.ft, placing Big Bazar Street Backside above this median. Below are the guideline values for other streets in Dharapuram Ward 3:

• Big Bazar Street: Rs 1,820 per sq.ft (2024)
• Atthar Majeeth Street: Rs 510 per sq.ft (2024)
• Attavanai Majeeth Street: Rs 510 per sq.ft (2024)
• Chairman Street: Rs 800 per sq.ft (2024)
• Jammal Pudur Street: Rs 575 per sq.ft (2024)
• Javulikadai pinpaguthi: Rs 1,770 per sq.ft (2024)

Stamp duty and registration fee for property in Big Bazar Street Backside

For a 1,000 sq.ft plot at the current guideline value of Rs 1,820 per sq.ft, the total guideline value would be Rs 18,20,000. The stamp duty at 7% would amount to Rs 1,27,400, and the registration fee at 2% would be Rs 36,400, making the total cost for these charges Rs 1,63,800. It is important to note that the 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 Big Bazar Street Backside?

The Sub Registrar Office that covers Big Bazar Street Backside is the Dharapuram Sub Registrar Office, located at Taluk Office Compound, Dharapuram 638 656, Coimbatore registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Dharapuram Ward 3

The guideline value is an essential factor when buying or selling property in Dharapuram Ward 3. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value serves as a reference point for the transaction and is crucial for ensuring compliance with local regulations.

When a property is sold, the guideline value helps in assessing the transaction value for taxation purposes. It is important for both buyers and sellers to understand how the guideline value impacts the overall cost of property transactions in the area.

Frequently asked questions

What is the current guideline value of Big Bazar Street Backside?

The current guideline value of Big Bazar Street Backside is Rs 1,820 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 296 per sq.ft in 2002, rising to Rs 1,820 per sq.ft in 2024. Notably, there was a decrease from Rs 1,650 per sq.ft in 2012 to Rs 1,105 per sq.ft in 2017.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 18,20,000, the stamp duty at 7% would be Rs 1,27,400, and the registration fee at 2% would be Rs 36,400, totaling Rs 1,63,800.

Which office handles property registration for Big Bazar Street Backside?

The Dharapuram Sub Registrar Office handles property registration for Big Bazar Street Backside, located at Taluk Office Compound, Dharapuram 638 656, Coimbatore registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a reference for assessing the transaction value for taxation purposes, ensuring compliance with local regulations.