Guideline Value for Bound Road

Bound Road guideline value

The current guideline value of Bound Road in Sowripalayam village, under the Peelamedu SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class II Type - I.

How the guideline value of Bound Road has changed

The guideline value for Bound Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 429 per sq.ft. This increased to Rs 484 per sq.ft in 2003, reflecting a change of +13%. The value then rose to Rs 507 per sq.ft in 2007, which was an increase of +5%. Following this, the 2012 revision set the value at Rs 2,000 per sq.ft, marking a significant rise of +294% from the previous figure.

In 2017, the guideline value was revised again to Rs 1,340 per sq.ft, which was a decrease of -33% from the 2012 figure. The 2023 revision saw another increase to Rs 2,000 per sq.ft, followed by the current 2024 revision, which set the value at Rs 2,200 per sq.ft, representing a +10% change from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +413%.

Guideline values in Sowripalayam

In Sowripalayam, there are 186 streets under the Peelamedu SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,800 per sq.ft, with a median value of Rs 2,300 per sq.ft. The guideline value for Bound Road is below this median.

• Chinnasowripalayam Street 1 to 6: Rs 2,300 per sq.ft (2024)
• Church Street 1 to 4: Rs 2,300 per sq.ft (2024)
• Cmc Colony: Rs 2,300 per sq.ft (2024)
• Blake Mariamman Kovil Street: Rs 2,300 per sq.ft (2024)
• Dispensary Road or Lane: Rs 2,300 per sq.ft (2024)
• Duraisamy Layout: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bound Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together 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 Bound Road?

The Sub Registrar Office covering Bound Road is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. Buyers and sellers should be aware that the guideline value is often considered the minimum value for property transactions.

When a property is sold, the registration office will assess the guideline value to ensure that the transaction reflects the appropriate fees. This means that even if the sale price is lower than the guideline value, the fees will be calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Bound Road?

The current guideline value of Bound Road is Rs 2,200 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 429 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +413%.

What is the land classification for Bound Road?

Bound Road is classified under Residential Class II Type - I, which is important for determining its usage and development potential.

Where can I find the Sub Registrar Office for Bound Road?

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

How is the stamp duty calculated for properties in Bound Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.