Guideline Value for CHITTIPALAYAM ROAD

Chittipalayam Road guideline value

The current guideline value of Chittipalayam Road is Rs 1,230 per sq.ft, effective from 1 July 2024. This street is located in Palladam village, under the Palladam SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Chittipalayam Road has changed

The guideline value for Chittipalayam Road has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,100 per sq.ft. In 2017, it decreased to Rs 737 per sq.ft, a change of -33%. However, by 2023, the value increased significantly to Rs 1,100 per sq.ft, and in the latest 2024 revision, it rose to Rs 1,230 per sq.ft, reflecting a 12% increase from the previous year.

Between 2017 and 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 12%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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 value among these streets is Rs 840 per sq.ft, placing Chittipalayam Road's 2024 figure above the median.

• Chithambaranar Street: Rs 720 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 Chittipalayam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,230 per sq.ft, the total guideline value amounts to Rs 12,30,000. The stamp duty at 7% would be Rs 86,100, and the registration fee at 2% would be Rs 24,600, bringing the total cost for duty and registration to Rs 1,10,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chittipalayam Road?

The Chittipalayam Road falls under the jurisdiction of 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 when registering property transactions in Palladam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can aid in negotiations and ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Chittipalayam Road?

The current guideline value of Chittipalayam Road is Rs 1,230 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and currently to Rs 1,230 per sq.ft in 2024.

What is the land classification of Chittipalayam Road?

Chittipalayam Road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where is the Palladam Sub Registrar Office located?

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

How is stamp duty calculated for properties on Chittipalayam Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 86,100.