Guideline Value for CORAL RESIDENCY

Coral Residency guideline value

The current guideline value of Coral Residency in Vellanaipatty village is Rs 1,005 per sq.ft, effective from 1 July 2024. This property falls under the Ganapathy Sub Registrar Office (SRO) and is classified as Residential Special Type - IV.

How the guideline value of Coral Residency has changed

The guideline value for Coral Residency has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,005 per sq.ft, up from Rs 900 per sq.ft in the 2023 revision. Prior to that, the value remained unchanged at Rs 900 per sq.ft from the 2017 revision.

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

Guideline values in Vellanaipatty

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

• Coral Residency Phase II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,005 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 90,450. Note that 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?

The Coral Residency area 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 plays a crucial role in the registration process when buying or selling property in Vellanaipatty. It is used to determine the applicable stamp duty and registration fees based on the property's value.

When a property is registered, the buyer must pay the stamp duty calculated on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Coral Residency?

The current guideline value for Coral Residency 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 2023 to Rs 1,005 per sq.ft in 2024, marking a 12% increase. There were no changes recorded from 2017 to 2023.

What is the land classification for Coral Residency?

Coral Residency is classified as Residential Special Type - IV, which indicates its specific zoning for residential use.

How is the stamp duty calculated for properties in Coral Residency?

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

Which office handles the registration for Coral Residency?

The Ganapathy Sub Registrar Office handles the registration for properties in Coral Residency, located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006.