Guideline Value for CLASSIC AVENUE PHASE 2

Classic Avenue Phase 2 guideline value

The current guideline value of Classic Avenue Phase 2 is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Mangalam village and falls under the Tiruppur Joint I SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Classic Avenue Phase 2 has changed

The guideline value for Classic Avenue Phase 2 has seen several revisions over the years. In 2017, the guideline value was Rs 300 per sq.ft, which increased to Rs 448 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 500 per sq.ft, reflecting a 12% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 67%.

Guideline values in Mangalam

In Mangalam, there are 89 streets under the Tiruppur Joint I SRO that carry a 2024 guideline value ranging from Rs 145 to Rs 550 per sq.ft, with a median value of Rs 205 per sq.ft. The guideline value of Classic Avenue Phase 2 is above this median.

• Classic Avenue Phase - I: Rs 305 per sq.ft (2024)
• Chinnaputhur: Rs 145 per sq.ft (2024)
• Deivathai Garden: Rs 260 per sq.ft (2024)
• East Garden: Rs 145 per sq.ft (2024)
• Five Star Nagar: Rs 165 per sq.ft (2024)
• Ganapathi Nagar: Rs 145 per sq.ft (2024)

Stamp duty and registration fee for property in Classic Avenue Phase 2

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Classic Avenue Phase 2?

The Sub Registrar Office that covers Classic Avenue Phase 2 is the Tiruppur Joint I Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mangalam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established values.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction, as it is used by the registration authorities to assess the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Classic Avenue Phase 2?

The current guideline value of Classic Avenue Phase 2 is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 300 per sq.ft in 2017 to Rs 448 per sq.ft in 2023, and then to Rs 500 per sq.ft in 2024. This reflects an overall increase of 67% from 2017 to 2024.

What is the land classification for Classic Avenue Phase 2?

The land classification for Classic Avenue Phase 2 is Residential Special Type - III.

What are the other streets in Mangalam with their guideline values?

Other streets in Mangalam include Classic Avenue Phase - I at Rs 305 per sq.ft, Chinnaputhur at Rs 145 per sq.ft, and Deivathai Garden at Rs 260 per sq.ft, among others.

Where can I find the Sub Registrar Office for Classic Avenue Phase 2?

The Sub Registrar Office for Classic Avenue Phase 2 is the Tiruppur Joint I Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone.