Guideline Value for COVAI ROAD ( I st Street )

COVAI ROAD ( I st Street ) guideline value

The current guideline value of COVAI ROAD ( I st Street ) is Rs 1,120 per sq.ft, effective from 1 July 2024. This street is located in Kangeyam village, under the Kangeyam SRO, and is classified as Commercial Class I Type - I.

How the guideline value of COVAI ROAD ( I st Street ) has changed

Looking at the revisions, the guideline value for COVAI ROAD ( I st Street ) has seen several changes over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft, which dropped to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,120 per sq.ft in the 2024 revision. Notably, there are no figures for this street in the 2002, 2003, and 2007 revisions.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 12%. Overall, comparing the 2012 and 2024 revisions, there has been a 12% increase in the guideline value.

Guideline values in Kangeyam

In Kangeyam, there are 202 streets under the Kangeyam SRO with a 2024 guideline value ranging from Rs 331 to Rs 1,120 per sq.ft. The median value among these streets is Rs 448 per sq.ft, indicating that the guideline value for COVAI ROAD ( I st Street ) is above this median.

• COVAI ROAD ( II st Street ): Rs 952 per sq.ft (2024)
• COVAI ROAD ( III rd Street ): Rs 952 per sq.ft (2024)
• Covai Road ( From Webrigde To Agasthilingampalayam): Rs 448 per sq.ft (2024)
• Covai Road ( From Roundana To Webrigde): Rs 1,120 per sq.ft (2024)
• Covai Road After Agasthilingampalayam: Rs 336 per sq.ft (2024)
• Court Street: Rs 616 per sq.ft (2024)

Stamp duty and registration fee for property in COVAI ROAD ( I st Street )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,120 per sq.ft, the total guideline value would be Rs 11,20,000. The stamp duty at 7% would amount to Rs 78,400, and the registration fee at 2% would be Rs 22,400, bringing the total cost for these fees to Rs 1,00,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers COVAI ROAD ( I st Street )?

The Sub Registrar Office that covers COVAI ROAD ( I st Street ) is the Kangeyam Sub Registrar Office, located at No.8, Taluk Office Campus, Kangeyam - 638701, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kangeyam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which ensures that the transaction reflects the true value of the property.

Frequently asked questions

What is the current guideline value of COVAI ROAD ( I st Street )?

The current guideline value of COVAI ROAD ( I st Street ) is Rs 1,120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,120 per sq.ft in 2024.

What is the land classification for COVAI ROAD ( I st Street )?

COVAI ROAD ( I st Street ) is classified as Commercial Class I Type - I, which indicates its commercial usage potential.

Where can I find the Kangeyam Sub Registrar Office?

The Kangeyam Sub Registrar Office is located at No.8, Taluk Office Campus, Kangeyam - 638701, Coimbatore registration zone.

How is stamp duty calculated for properties in COVAI ROAD ( I st Street )?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,20,000, the stamp duty would be Rs 78,400.