Guideline Value for CHITHAMBARANAR STREET

Chithambaranar Street guideline value

The current guideline value of Chithambaranar Street is Rs 720 per sq.ft, effective from 1 July 2024. This street is located in Palladam village, under the Palladam SRO, and is classified as Residential Class I Type - III.

How the guideline value of Chithambaranar Street has changed

The guideline value for Chithambaranar Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 650 per sq.ft. In 2017, this figure decreased to Rs 435 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the value increased significantly to Rs 650 per sq.ft, and further rose to Rs 720 per sq.ft in the 2024 revision, reflecting an increase of 11% from the previous year.

There are no recorded guideline values for Chithambaranar Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a net increase of 11%.

Guideline values in Palladam

Palladam village has a total of 56 streets under the Palladam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,450 per sq.ft. The median guideline value for these streets is Rs 840 per sq.ft, placing Chithambaranar Street's 2024 value below this median.

• Chittipalayam Road: Rs 1,230 per sq.ft (2024)
• Chinniya Gounder Street: Rs 840 per sq.ft (2024)
• Chinnaiya Garden: Rs 840 per sq.ft (2024)
• C.R.Pillai Layout: Rs 840 per sq.ft (2024)
• Centhottam: Rs 720 per sq.ft (2024)
• Boyar Street: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Chithambaranar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value would be Rs 7,20,000. The stamp duty at 7% would amount to Rs 50,400, and the registration fee at 2% would be Rs 14,400, leading to a total of Rs 64,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chithambaranar Street?

The Sub Registrar Office that covers Chithambaranar Street 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 Palladam

The guideline value is a crucial factor in property transactions in Palladam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a reference point for both parties, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Chithambaranar Street?

The current guideline value of Chithambaranar Street is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then increased to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the land classification for Chithambaranar Street?

Chithambaranar Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for Chithambaranar Street?

The registration office for Chithambaranar Street is the Palladam Sub Registrar Office, located at No.16, Mangalam Road, Palladam - 641664, Coimbatore registration zone.

How is stamp duty calculated for properties in Palladam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, if the guideline value is Rs 7,20,000, the stamp duty at 7% would be Rs 50,400.