Guideline Value for CHITHAMBALAM ROAD-1

Chithambalam Road-1 guideline value

The current guideline value of Chithambalam Road-1 is Rs 380 per sq.ft, effective from 1 July 2024. This street is located in Vadugapalayam village under the Palladam SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Chithambalam Road-1 has changed

The guideline value for Chithambalam Road-1 has seen several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which then decreased to Rs 234 per sq.ft in the 2017 revision. Following this, the value increased significantly by 50% to Rs 350 per sq.ft in the 2023 revision, before rising again to the current value of Rs 380 per sq.ft in the 2024 revision, marking a 9% increase.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Vadugapalayam

In Vadugapalayam, there are 27 streets under the Palladam SRO that carry a 2024 guideline value ranging from Rs 301 to Rs 840 per sq.ft, with a median value of Rs 500 per sq.ft. Chithambalam Road-1's 2024 figure of Rs 380 per sq.ft is below this median.

• Chithambalam Road-2: Rs 380 per sq.ft (2024)
• Chinniyagounder Street: Rs 500 per sq.ft (2024)
• Chinnaiya Garden: Rs 840 per sq.ft (2024)
• Ganapathi Nagar: Rs 380 per sq.ft (2024)
• Bharathiyar Street: Rs 500 per sq.ft (2024)
• Hostel Colony: Rs 380 per sq.ft (2024)

Stamp duty and registration fee for property in Chithambalam Road-1

For a 1,000 sq.ft plot at the current guideline value of Rs 380 per sq.ft, the total guideline value would be Rs 3,80,000. The stamp duty at 7% would amount to Rs 26,600, and the registration fee at 2% would be Rs 7,600, bringing the total fees to Rs 34,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Chithambalam Road-1?

The Sub Registrar Office that covers Chithambalam Road-1 is the Palladam Sub Registrar Office, located at No.16, Mangalam Road, Palladam - 641664, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Vadugapalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Chithambalam Road-1?

The current guideline value of Chithambalam Road-1 is Rs 380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then increased to Rs 350 per sq.ft in 2023, and finally to Rs 380 per sq.ft in 2024.

What is the land classification for Chithambalam Road-1?

Chithambalam Road-1 falls under the Residential Class II Type - II land classification.

Where can I find the Sub Registrar Office for Chithambalam Road-1?

The Sub Registrar Office for Chithambalam Road-1 is located at No.16, Mangalam Road, Palladam - 641664, Coimbatore registration zone.

How is the stamp duty calculated for properties in Chithambalam Road-1?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,80,000, the stamp duty would be Rs 26,600 at 7%.