Guideline Value for CHELLAMMAL COLONY 4TH STREET

Chellammal Colony 4th Street guideline value

The current guideline value of Chellammal Colony 4th Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Velampalayam village, under the Tiruppur Joint II SRO, and is classified as Mixed Type - II land.

How the guideline value of Chellammal Colony 4th Street has changed

The guideline value for Chellammal Colony 4th Street has undergone several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 700 per sq.ft in 2023, and then rose again to Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Velampalayam

In Velampalayam, there are 472 streets under the Tiruppur Joint II SRO with a guideline value for 2024 ranging from Rs 701 to Rs 4,480 per sq.ft. The median value is Rs 711 per sq.ft, placing Chellammal Colony 4th Street's 2024 figure above that median.

• Chellammal Colony 1st Street: Rs 770 per sq.ft (2024)
• Chellammal Colony 2nd Street: Rs 770 per sq.ft (2024)
• Chellammal Colony 3rd Street: Rs 770 per sq.ft (2024)
• Chellammal Colony 5th Street: Rs 770 per sq.ft (2024)
• Chellammal Colony: Rs 770 per sq.ft (2024)
• Chandhira Vadhana: Rs 890 per sq.ft (2024)

Stamp duty and registration fee for property in Chellammal Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chellammal Colony 4th Street?

The Sub Registrar Office that covers Chellammal Colony 4th Street is the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Velampalayam. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value helps establish the minimum value on which stamp duty is calculated. This ensures that the government receives appropriate revenue from property transactions, reflecting the current market conditions as per the official guidelines.

Frequently asked questions

What is the current guideline value of Chellammal Colony 4th Street?

The current guideline value of Chellammal Colony 4th Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Chellammal Colony 4th Street?

Chellammal Colony 4th Street is classified as Mixed Type - II land, which indicates a combination of residential and commercial uses.

What is the registration office for Chellammal Colony 4th Street?

The registration office for Chellammal Colony 4th Street is the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone.

How is stamp duty calculated for properties in Velampalayam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 7,70,000 would incur a stamp duty of Rs 53,900 at 7%.