Guideline Value for CHERAN NAGAR

Cheran Nagar guideline value

The current guideline value of Cheran Nagar, located in Muthanampalayam village under the Tiruppur Joint I SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Cheran Nagar has changed

In the 2012 revision, the guideline value was set at Rs 150 per sq.ft. This amount increased to Rs 100 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value experienced a significant increase of 600%, reaching Rs 700 per sq.ft. The 2023 revision also maintained this figure through to the 2024 revision, resulting in no percentage change.

It is important to note that the register has no figure for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 367%.

Guideline values in Muthanampalayam

Muthanampalayam village has 178 streets under the Tiruppur Joint I SRO, with guideline values for 2024 ranging from Rs 700 to Rs 896 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which is equal to the guideline value of Cheran Nagar.

• Cheran Tholilalar Colony: Rs 708 per sq.ft (2024)
• Cheran Labour Colony: Rs 708 per sq.ft (2024)
• Captain Nagar: Rs 700 per sq.ft (2024)
• Deivam Nagar: Rs 700 per sq.ft (2024)
• Dhanakkamparaikkadu: Rs 700 per sq.ft (2024)
• Dharapuram Road (Beyond Kovil Vazhi): Rs 708 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value is Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cheran Nagar?

The Sub Registrar Office covering Cheran Nagar is the Tiruppur Joint I Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Muthanampalayam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a legal framework for the transaction, providing transparency and consistency in property valuations across the region.

Frequently asked questions

What is the current guideline value of Cheran Nagar?

The current guideline value of Cheran Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 150 per sq.ft to Rs 700 per sq.ft by 2024, reflecting an overall increase of 367% over this period.

What is the land classification for Cheran Nagar?

Cheran Nagar is classified as Residential Special Type - IV, indicating its designation for residential development.

Where can I find the Sub Registrar Office for Cheran Nagar?

The Sub Registrar Office for Cheran Nagar is located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, in the Coimbatore registration zone.

How is stamp duty calculated in Cheran Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.