Guideline Value for CARNEGIE RESIDENCY

Carnegie Residency guideline value

The current guideline value of Carnegie Residency is Rs 1,876 per sq.ft, effective from 1 July 2024. This property is located in Vellakinar, under the Gandhipuram SRO, classified as Residential Class I Type - IV.

How the guideline value of Carnegie Residency has changed

The guideline value for Carnegie Residency has undergone significant changes over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,000 per sq.ft. The most recent revision in 2024 saw a substantial increase to Rs 1,876 per sq.ft, marking an increase of 88% from the previous year.

This increase reflects a notable adjustment in the valuation of properties in the area. The current figure of Rs 1,876 per sq.ft aligns with the median guideline value for Vellakinar, which ranges from Rs 1,030 to Rs 2,886 per sq.ft for 107 streets under the Gandhipuram SRO.

Guideline values in Vellakinar.

In Vellakinar, the guideline values vary across different streets, with the current figures for this street being equal to the median of Rs 1,876 per sq.ft. Below are the guideline values for other streets in Vellakinar:

• Casagrand Cosmos: Rs 1,070 per sq.ft (2024)
• Casagrand Solitaire: Rs 1,070 per sq.ft (2024)
• Classic Meadows: Rs 1,775 per sq.ft (2024)
• Doctors Township: Rs 1,270 per sq.ft (2024)
• Don Bosco Puram: Rs 1,030 per sq.ft (2024)
• D.P.F.Nagar: Rs 1,876 per sq.ft (2024)

Stamp duty and registration fee for property in Carnegie Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 1,876 per sq.ft, the total guideline value amounts to Rs 18,76,000. The stamp duty at 7% would be Rs 1,31,320, and the registration fee at 2% would be Rs 37,520, bringing the total to Rs 1,68,840. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Carnegie Residency?

The Carnegie Residency falls under the jurisdiction of the Gandhipuram Sub Registrar Office, located at Sro Gandhipuram, Kalapatti Road, near Saravanampatti Police Station, Saravanampatti-641035, Coimbatore registration zone.

To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vellakinar. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is used to determine the official value for taxation purposes. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Carnegie Residency?

The current guideline value of Carnegie Residency is Rs 1,876 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

In the 2023 revision, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 1,876 per sq.ft in the 2024 revision, marking an increase of 88%.

What are the other streets in Vellakinar with their guideline values?

Other streets in Vellakinar include Casagrand Cosmos and Casagrand Solitaire at Rs 1,070 per sq.ft, Classic Meadows at Rs 1,775 per sq.ft, Doctors Township at Rs 1,270 per sq.ft, Don Bosco Puram at Rs 1,030 per sq.ft, and D.P.F.Nagar at Rs 1,876 per sq.ft.

Where is the Gandhipuram Sub Registrar Office located?

The Gandhipuram Sub Registrar Office is located at Sro Gandhipuram, Kalapatti Road, near Saravanampatti Police Station, Saravanampatti-641035, Coimbatore registration zone.

How is the stamp duty calculated for properties in Carnegie Residency?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 18,76,000, the stamp duty would be Rs 1,31,320 at 7%.