Guideline Value for CHITHRALAYA NAGAR

Chithralaya Nagar guideline value

The current guideline value of Chithralaya Nagar is Rs 704 per sq.ft, effective from 1 July 2024. This locality is situated in Nallur village, under the Nallur_Tiruppur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Chithralaya Nagar has changed

The guideline value for Chithralaya Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 185 per sq.ft. This increased to Rs 124 per sq.ft in the 2017 revision, reflecting a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 465%, bringing the value to Rs 700 per sq.ft. The most recent revision in 2024 saw a slight increase of 1%, resulting in the current guideline value of Rs 704 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 281%.

Guideline values in Nallur

Nallur village has a total of 280 streets under the Nallur_Tiruppur SRO, with guideline values ranging from Rs 700 to Rs 1,764 per sq.ft. The median guideline value for these streets is Rs 714 per sq.ft, placing Chithralaya Nagar's 2024 figure below this median.

• Christian Colony: Rs 840 per sq.ft (2024)
• C.K.Marappagounder Nagar: Rs 708 per sq.ft (2024)
• Convent Nagar: Rs 1,064 per sq.ft (2024)
• Cheran Nagar: Rs 913 per sq.ft (2024)
• Cheran Employees Garden: Rs 712 per sq.ft (2024)
• Chennimalaipalayam Nattham: Rs 708 per sq.ft (2024)

Stamp duty and registration fee for property in Chithralaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 704 per sq.ft, the total guideline value would be Rs 7,04,000. The stamp duty at 7% would amount to Rs 49,280, and the registration fee at 2% would be Rs 14,080, making the total cost for these fees Rs 63,360. 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 Chithralaya Nagar?

Chithralaya Nagar falls under the Nallur_Tiruppur Sub Registrar Office, located near Hotel Riverview, Nagapattinam 611002, in the Coimbatore registration zone. To find your specific SRO, visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chithralaya Nagar?

The current guideline value of Chithralaya Nagar is Rs 704 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 185 per sq.ft in 2012 to Rs 704 per sq.ft in 2024, reflecting an overall increase of 281% over this period.

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

Other streets in Nallur include Christian Colony at Rs 840 per sq.ft, C.K.Marappagounder Nagar at Rs 708 per sq.ft, and Convent Nagar at Rs 1,064 per sq.ft, among others.

How is stamp duty calculated in Chithralaya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,04,000, the stamp duty would be Rs 49,280 at 7%.

Where can I find the Sub Registrar Office for Chithralaya Nagar?

The Sub Registrar Office covering Chithralaya Nagar is the Nallur_Tiruppur SRO, located near Hotel Riverview, Nagapattinam 611002, Coimbatore registration zone.