Guideline Value for COVAI FAIR LANDS

Covai Fair Lands guideline value

The current guideline value of Covai Fair Lands in Veerapandi village is Rs 390 per sq.ft, effective from 1 July 2024. This property falls under the Periyanayakkan Palayam SRO and is classified as Residential Class I Type - I.

How the guideline value of Covai Fair Lands has changed

The guideline value for Covai Fair Lands has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 390 per sq.ft, which is an increase from Rs 350 per sq.ft in the 2023 revision, reflecting an 11% change. The register does not have figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline values were not recorded for the specified years. Therefore, the only available figures are from 2023 and 2024, indicating a clear upward movement in the guideline value for Covai Fair Lands.

Guideline values in Veerapandi

In Veerapandi, there are 201 streets under the Periyanayakkan Palayam SRO with 2024 guideline values ranging from Rs 220 to Rs 1,050 per sq.ft. The median value is Rs 330 per sq.ft, placing Covai Fair Lands above this median with its 2024 figure of Rs 390 per sq.ft.

• Daimond Park: Rs 220 per sq.ft (2024)
• Church Road Thiruvalluvar Nagar: Rs 390 per sq.ft (2024)
• Chola Avenue: Rs 220 per sq.ft (2024)
• Devi Nagar: Rs 390 per sq.ft (2024)
• Chitra Nagar: Rs 335 per sq.ft (2024)
• Dhaksin Avenue: Rs 390 per sq.ft (2024)

Stamp duty and registration fee for property in Covai Fair Lands

For a 1,000 sq.ft plot at the current guideline value of Rs 390 per sq.ft, the total guideline value amounts to Rs 3,90,000. The stamp duty at 7% would be Rs 27,300, and the registration fee at 2% would be Rs 7,800, making the total cost for these fees Rs 35,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Covai Fair Lands?

The Covai Fair Lands property is covered by the Periyanayakkan Palayam Sub Registrar Office, located at No.171, kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020. For more information, you can find your SRO.

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

The guideline value is a critical factor during property registration in Veerapandi. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the necessary fees, which can influence the overall cost of the transaction. It is essential to understand that the guideline value may differ from the sale price, and the higher amount will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Covai Fair Lands?

The current guideline value of Covai Fair Lands is Rs 390 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 350 per sq.ft in 2023 to Rs 390 per sq.ft in 2024, marking an 11% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values of other streets in Veerapandi?

Other streets in Veerapandi have varying guideline values, ranging from Rs 220 to Rs 390 per sq.ft. For instance, Daimond Park is valued at Rs 220 per sq.ft, while Church Road Thiruvalluvar Nagar and Devi Nagar are both valued at Rs 390 per sq.ft.

What fees are associated with buying property in Covai Fair Lands?

When purchasing property in Covai Fair Lands, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, these fees total Rs 35,100 based on the current guideline value.

Where can I find the Sub Registrar Office for Covai Fair Lands?

The Sub Registrar Office covering Covai Fair Lands is the Periyanayakkan Palayam SRO, located at No.171, kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020. You can find more details online.