Guideline Value for CITY CIRCLE

City Circle guideline value

The current guideline value of City Circle in Narasimmanaickenpalayam village is Rs 1,340 per sq.ft, effective from 1 July 2024. This area falls under the Periyanayakkan Palayam SRO and is classified as Residential Class I Type - V.

How the guideline value of City Circle has changed

The guideline value for City Circle has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,200 per sq.ft, which increased to Rs 1,340 per sq.ft in the 2024 revision, marking a change of +12%.

From the 2023 revision to the 2024 revision, the increase reflects the current market dynamics. The 2024 figure of Rs 1,340 per sq.ft is significantly higher than the previous year's value.

Guideline values in Narasimmanaickenpalayam

Narasimmanaickenpalayam has a total of 153 streets under the Periyanayakkan Palayam SRO, with guideline values ranging from Rs 220 to Rs 1,340 per sq.ft. The median guideline value in this area is Rs 310 per sq.ft, placing City Circle's 2024 figure above the median.

• Chitra Nagar: Rs 450 per sq.ft (2024)
• Daimand Nagar: Rs 220 per sq.ft (2024)
• Deniel Nagar: Rs 450 per sq.ft (2024)
• Deniel Nagar Extension: Rs 380 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 450 per sq.ft (2024)
• Chennamanaickenur: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in City Circle

For a 1,000 sq.ft plot at the current rate of Rs 1,340 per sq.ft, the guideline value would be Rs 13,40,000. The stamp duty at 7% would be Rs 93,800, and the registration fee at 2% would be Rs 26,800, totaling Rs 1,20,600. 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 more precise calculations.

Which Sub Registrar Office covers City Circle?

The City Circle area is covered by the Periyanayakkan Palayam Sub Registrar Office, located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a key factor in determining the stamp duty and registration fees when buying or selling property in Narasimmanaickenpalayam. It serves as a benchmark for the value of the property being registered, ensuring that the appropriate fees are calculated based on the established rates.

When a property transaction occurs, the guideline value helps in assessing the tax liabilities associated with the sale. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of City Circle?

The current guideline value of City Circle in Narasimmanaickenpalayam is Rs 1,340 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 1,200 per sq.ft to Rs 1,340 per sq.ft, reflecting a change of +12%.

What is the median guideline value in Narasimmanaickenpalayam?

The median guideline value in Narasimmanaickenpalayam is Rs 310 per sq.ft, with City Circle's 2024 figure being above this median.

Where can I find the Sub Registrar Office for City Circle?

The Sub Registrar Office covering City Circle is the Periyanayakkan Palayam SRO, located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020.

How is stamp duty calculated for properties in City Circle?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,340 per sq.ft, the total guideline value would be Rs 13,40,000.