Guideline Value for CHETTIPALAYAM

Chettipalayam guideline value

The current guideline value of Chettipalayam, located in Veerakeralam village, under the Thondamuthur SRO, is Rs 1,006 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Chettipalayam has changed

Over the years, the guideline value of Chettipalayam has seen significant changes. The earliest recorded figure is from 2007, when the value was Rs 175 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a substantial rise of 357%. However, from 2012 to 2017, the value decreased by 33% to Rs 536 per sq.ft. The value then surged by 87% to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,006 per sq.ft following a 1% increase in 2024.

It is important to note that the guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 475%.

Guideline values in Veerakeralam

In Veerakeralam, there are 135 streets under the Thondamuthur SRO, with 2024 guideline values ranging from Rs 1,004 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,014 per sq.ft, placing Chettipalayam's 2024 figure below that median.

• Cheran Sengutuvan Nagar: Rs 1,014 per sq.ft (2024)
• Chinmaya Nager: Rs 1,028 per sq.ft (2024)
• Chenngapetariamman Kovil St: Rs 1,006 per sq.ft (2024)
• Chitti Vinayager Kovil St: Rs 1,014 per sq.ft (2024)
• Chokkalinga Mudhaliar St: Rs 1,026 per sq.ft (2024)
• Daimand Nager: Rs 1,014 per sq.ft (2024)

Stamp duty and registration fee for property in Chettipalayam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, bringing the total fees together to Rs 90,540. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chettipalayam?

The Sub Registrar Office that covers Chettipalayam is the Thondamuthur Sub Registrar Office, located at 5/33, Chinnammal Complex, Mappillai Gounder Thottam, Narasipuram Main Road, Thondamuthur, Perur Taluk, Coimbatore-641 108, Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Veerakeralam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, buyers must pay stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chettipalayam?

The current guideline value of Chettipalayam is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 175 per sq.ft to Rs 1,006 per sq.ft in 2024, marking an overall increase of 475%.

What is the stamp duty for property in Chettipalayam?

The stamp duty for property in Chettipalayam is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chettipalayam?

The Sub Registrar Office for Chettipalayam is located in Thondamuthur at 5/33, Chinnammal Complex, Mappillai Gounder Thottam, Narasipuram Main Road, Thondamuthur, Perur Taluk, Coimbatore-641 108.

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

Other streets in Veerakeralam include Cheran Sengutuvan Nagar at Rs 1,014 per sq.ft, Chinmaya Nager at Rs 1,028 per sq.ft, and several others, with values ranging from Rs 1,004 to Rs 3,000 per sq.ft.