Guideline Value for CHINMAYA NAGER

Chinmaya Nager guideline value

The current guideline value of Chinmaya Nager is Rs 1,028 per sq.ft, effective from 1 July 2024. This area is located in Veerakeralam village under the Thondamuthur SRO, classified as Industries Special Type - I.

How the guideline value of Chinmaya Nager has changed

The guideline value for Chinmaya Nager has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 100 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, but then decreased to Rs 569 per sq.ft in 2017. The value rose to Rs 1,000 per sq.ft in 2023 and is now Rs 1,028 per sq.ft in the 2024 revision.

From 2017 to 2023, the increase was 76%, followed by a 3% rise from 2023 to 2024. The most notable change was from 2007 to 2012, which saw an increase of 600%. Overall, from 2007 to 2024, the guideline value has increased by 928%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Veerakeralam

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

• Chettipalayam: Rs 1,006 per sq.ft (2024)
• Cheran Sengutuvan Nagar: Rs 1,014 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 Chinmaya Nager

For a 1,000 sq.ft plot at the current guideline value of Rs 1,028 per sq.ft, the total guideline value would be Rs 10,28,000. The stamp duty at 7% would amount to Rs 71,960, and the registration fee at 2% would be Rs 20,560, leading to a total of Rs 92,520. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinmaya Nager?

The Sub Registrar Office that covers Chinmaya Nager is the Thondamuthur Sub Registrar Office, located at 5/33, Chinnammal Complex, Mappillai Gounder Thottam, Narasipuram Main Road, Thondamuthur, Perur Taluk, Coimbatore- 641 108, 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 Veerakeralam

The guideline value is a crucial factor in property transactions in Veerakeralam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is in line with the guideline value to avoid any legal complications. The registration department uses the guideline value to assess the proper taxes and fees applicable during the transaction process.

Frequently asked questions

What is the current guideline value of Chinmaya Nager?

The current guideline value of Chinmaya Nager is Rs 1,028 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2007 to Rs 1,028 per sq.ft in 2024, showing significant changes in the revisions over the years.

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

Other streets in Veerakeralam include Chettipalayam at Rs 1,006 per sq.ft, Cheran Sengutuvan Nagar at Rs 1,014 per sq.ft, and several others, with values ranging from Rs 1,004 to Rs 3,000 per sq.ft.

What is the stamp duty rate for properties in Chinmaya Nager?

The stamp duty rate for properties in Chinmaya Nager is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Chinmaya Nager located?

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