Guideline Value for CHERAN CO-OPERATIVE INDUSTRIAL SOCIETY

Cheran Co-Operative Industrial Society guideline value

The current guideline value of Cheran Co-Operative Industrial Society is Rs 720 per sq.ft, effective from 1 July 2024. This property is located in Somayampalayam village under the Vadavalli SRO, classified as Residential Class I Type - I.

How the guideline value of Cheran Co-Operative Industrial Society has changed

Over the years, the guideline value for Cheran Co-Operative Industrial Society has seen several revisions. The earliest recorded figure is from 2012, where it was Rs 500 per sq.ft. This figure changed to Rs 435 per sq.ft in 2017, representing a decrease of 13%. However, from 2017 to 2023, the value increased significantly to Rs 650 per sq.ft, marking a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 720 per sq.ft, reflecting an increase of 11% from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 44% from Rs 500 per sq.ft in 2012 to Rs 720 per sq.ft in 2024.

Guideline values in Somayampalayam

In Somayampalayam, there are 139 streets under the Vadavalli SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median value for these streets is Rs 720 per sq.ft, which aligns with the current guideline value of Cheran Co-Operative Industrial Society.

• Chinnammal Nagar: Rs 990 per sq.ft (2024)
• Co-Operative Bank Colony: Rs 550 per sq.ft (2024)
• Cosmo Garden: Rs 775 per sq.ft (2024)
• Cosmo Nagar: Rs 550 per sq.ft (2024)
• Cosmo Village Avenue: Rs 720 per sq.ft (2024)
• Cosmo Village Extention: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Co-Operative Industrial Society

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty, charged at 7%, would be Rs 50,400, while the registration fee at 2% would be Rs 14,400. The total cost for stamp duty and registration fees together would be Rs 64,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cheran Co-Operative Industrial Society?

The Cheran Co-Operative Industrial Society falls under the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Somayampalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently, adhering to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Cheran Co-Operative Industrial Society?

The current guideline value of Cheran Co-Operative Industrial Society is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 720 per sq.ft in 2024, with various revisions in between, including Rs 435 in 2017 and Rs 650 in 2023.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 7,20,000, the total stamp duty and registration fees would amount to Rs 64,800.

Which office handles registrations for Cheran Co-Operative Industrial Society?

The Vadavalli Sub Registrar Office handles registrations for Cheran Co-Operative Industrial Society, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046.

How is the guideline value determined for properties in Somayampalayam?

The guideline value is determined based on various factors and is revised periodically. It serves as a benchmark for property transactions, ensuring compliance with government regulations for stamp duty and registration fees.