Guideline Value for CHITRA NAGAR

Chitra Nagar guideline value

The current guideline value of Chitra Nagar is Rs 1,685 per sq.ft, effective from 1 July 2024. This area is located in Saravanmpatty, under the Gandhipuram SRO, and is classified as Residential Special Type - III.

How the guideline value of Chitra Nagar has changed

The guideline value of Chitra Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. However, from 2017 to 2023, it rose significantly to Rs 1,000 per sq.ft, marking a 66% increase. The most recent revision in 2024 has brought the value to Rs 1,685 per sq.ft, a substantial increase of 69% from the previous year.

Notably, the register has no figures for Chitra Nagar for the years 2002, 2003, and 2007. Overall, comparing the figures from 2012 to 2024, there has been an increase of 87% in the guideline value.

Guideline values in Saravanmpatty.

In Saravanmpatty, there are 180 streets under the Gandhipuram SRO that carry a 2024 guideline value ranging from Rs 1,010 to Rs 5,654 per sq.ft, with a median value of Rs 1,060 per sq.ft. Chitra Nagar's 2024 guideline value is above this median.

• C.P.Kandasamy Nagar: Rs 1,060 per sq.ft (2024)
• Chidambaram Nagar: Rs 1,685 per sq.ft (2024)
• Daisy Garden: Rs 1,685 per sq.ft (2024)
• Buthar Veethi: Rs 1,045 per sq.ft (2024)
• Brahma Camellia: Rs 1,170 per sq.ft (2024)
• Boyar Street: Rs 1,045 per sq.ft (2024)

Stamp duty and registration fee for property in Chitra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,685 per sq.ft, the guideline value amounts to Rs 16,85,000. The stamp duty at 7% would be Rs 1,17,950, and the registration fee at 2% would be Rs 33,700, making the total cost Rs 1,51,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chitra Nagar?

The Sub Registrar Office that covers Chitra Nagar is the Gandhipuram Sub Registrar Office, located at Sro Gandhipuram, Kalapatti Road, near Saravanampatti Police Station, Saravanampatti-641035, Coimbatore. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Saravanmpatty. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This value is set by the government and is periodically revised based on various factors.

When buying or selling property, the guideline value ensures that the transaction is transparent and that the government receives the appropriate revenue from property sales. Buyers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Chitra Nagar?

The current guideline value of Chitra Nagar is Rs 1,685 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,685 per sq.ft in 2024.

What is the land classification of Chitra Nagar?

Chitra Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Chitra Nagar is the Gandhipuram Sub Registrar Office, located at Sro Gandhipuram, Kalapatti Road, near Saravanampatti Police Station, Saravanampatti-641035, Coimbatore.

How is the stamp duty calculated for properties in Chitra Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 16,85,000, the stamp duty at 7% would be Rs 1,17,950.