Guideline Value for Bungalow (R.M.T) Street

Bungalow (R.M.T) Street guideline value

The current guideline value of Bungalow (R.M.T) Street is Rs 1,075 per sq.ft, effective from 1 July 2024. This street is located in Kurichi village, under the Coimbatore North Joint 1 SRO, and is classified as Residential Special Type - IV.

How the guideline value of Bungalow (R.M.T) Street has changed

The guideline value for Bungalow (R.M.T) Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 345 per sq.ft. This figure increased significantly to Rs 950 per sq.ft in 2012, then saw a decrease to Rs 636 per sq.ft in 2017. The value rose again to Rs 1,000 per sq.ft in 2023 and is now Rs 1,075 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Between the revisions, the changes were substantial. From 2007 to 2012, there was a notable increase of 175%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 57% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 212%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kurichi

In Kurichi village, there are 536 streets under the Coimbatore North Joint 1 SRO that have a guideline value for 2024, ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,040 per sq.ft, placing Bungalow (R.M.T) Street's 2024 guideline value above this median.

• Carmel Nagar (Ward 15): Rs 1,035 per sq.ft (2024)
• Castles Eden Enclave: Rs 1,035 per sq.ft (2024)
• Boyar Street (Ward 8): Rs 1,030 per sq.ft (2024)
• Ceylon Colony (Ward 14): Rs 1,030 per sq.ft (2024)
• Chandre Gounder Street (Ward 20): Rs 1,040 per sq.ft (2024)
• Chandre Gounder Street (Ward 21): Rs 1,040 per sq.ft (2024)

Stamp duty and registration fee for property in Bungalow (R.M.T) Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,075 per sq.ft, the total guideline value would be Rs 10,75,000. The stamp duty at 7% would amount to Rs 75,250, and the registration fee at 2% would be Rs 21,500, totaling Rs 96,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bungalow (R.M.T) Street?

The Sub Registrar Office that covers Bungalow (R.M.T) Street is the Coimbatore North Joint 1 Sub Registrar Office, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Kurichi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Bungalow (R.M.T) Street?

The current guideline value of Bungalow (R.M.T) Street is Rs 1,075 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 345 per sq.ft in 2007 to Rs 1,075 per sq.ft in 2024, marking an overall increase of 212% over the years.

What is the land classification for Bungalow (R.M.T) Street?

Bungalow (R.M.T) Street is classified as Residential Special Type - IV under the Coimbatore North Joint 1 SRO.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 10,75,000, the total fees would amount to Rs 96,750.

Which Sub Registrar Office covers this street?

The Coimbatore North Joint 1 Sub Registrar Office covers Bungalow (R.M.T) Street, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001.