Guideline Value for CHINNAMMAL NAGAR

Chinnammal Nagar guideline value

The current guideline value of Chinnammal Nagar, located in Somayampalayam village under the Vadavalli SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Chinnammal Nagar has changed

The guideline value for Chinnammal Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, and finally to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes in guideline value from 2012 to 2024 show a modest overall increase of 10%. Notably, the value jumped by 49% from 2017 to 2023, while it saw a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Somayampalayam

In Somayampalayam, there are 139 streets under the Vadavalli SRO with a 2024 guideline value range from Rs 330 to Rs 2,000 per sq.ft. The median guideline value is Rs 720 per sq.ft, placing Chinnammal Nagar's value above this median.

• Cheran Co-Operative Industrial Society: Rs 720 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 Chinnammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that 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 Chinnammal Nagar?

The Sub Registrar Office that covers Chinnammal Nagar is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046, 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 Somayampalayam

The guideline value plays a crucial role in the registration process when buying or selling property in Somayampalayam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Chinnammal Nagar?

The current guideline value of Chinnammal Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 900 in 2012 to Rs 603 in 2017, then increased to Rs 900 in 2023, and finally to Rs 990 in 2024. This shows a significant increase from 2017 to 2023 and a modest overall increase from 2012 to 2024.

What is the land classification of Chinnammal Nagar?

Chinnammal Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes.

Where is the Vadavalli Sub Registrar Office located?

The Vadavalli Sub Registrar Office is located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046, in the Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800.