Guideline Value for CORAL RESIDENCY PHASE II

Coral Residency Phase II guideline value

The current guideline value of Coral Residency Phase II is Rs 1,005 per sq.ft. It is located in Vellanaipatty village under the Ganapathy SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Coral Residency Phase II has changed

Looking at the revisions, the guideline value for Coral Residency Phase II has seen changes over the years. The 2017 revision had no change, maintaining a value of Rs 900 per sq.ft. The next revision in 2023 also kept this figure at Rs 900 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,005 per sq.ft, marking a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 12%. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Vellanaipatty

In Vellanaipatty, there are 110 streets under the Ganapathy SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 335 per sq.ft. The guideline value for Coral Residency Phase II is above this median.

• Coral Residency: Rs 1,005 per sq.ft (2024)
• Coral Residency Phase III: Rs 1,000 per sq.ft (2024)
• Coral Residency Phase IV: Rs 1,000 per sq.ft (2024)
• Coral Residency Phase V: Rs 1,000 per sq.ft (2024)
• Coral Residency Phase VI: Rs 1,000 per sq.ft (2024)
• Coral Residency Phase - VII: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Coral Residency Phase II

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 10,05,000. The stamp duty at 7% would be Rs 70,350, and the registration fee at 2% would be Rs 20,100, totaling Rs 90,450. 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 more details.

Which Sub Registrar Office covers Coral Residency Phase II?

The Coral Residency Phase II is covered by the Ganapathy Sub Registrar Office, located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Vellanaipatty. It serves as a benchmark for determining the minimum value of the property for the purpose of stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Coral Residency Phase II?

The current guideline value of Coral Residency Phase II is Rs 1,005 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2017 to Rs 1,005 per sq.ft in 2024, reflecting a 12% increase over this period.

What is the land classification for Coral Residency Phase II?

The land classification for Coral Residency Phase II is Residential Special Type - IV, indicating its designated use for residential purposes.

Where can I find the Ganapathy Sub Registrar Office?

The Ganapathy Sub Registrar Office is located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006. This office handles property registrations for the area.

How is stamp duty calculated for properties in Vellanaipatty?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,05,000, the stamp duty would be Rs 70,350 at a rate of 7%.