Guideline Value for COVAI ROAD ( III rd Street )

COVAI ROAD ( III rd Street ) guideline value

The current guideline value for COVAI ROAD ( III rd Street ) in Kangeyam village is Rs 952 per sq.ft, effective from 1 July 2024. This street falls under the Kangeyam Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of COVAI ROAD ( III rd Street ) has changed

The guideline value for COVAI ROAD ( III rd Street ) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 850 per sq.ft. This figure then dropped to Rs 569 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 850 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has set the value at Rs 952 per sq.ft, which is an increase of 12% from the previous year.

It is important to note that the register has no figures for COVAI ROAD ( III rd Street ) in the years 2002, 2003, and 2007. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 12% in the guideline value.

Guideline values in Kangeyam

In Kangeyam, there are 202 streets under the Kangeyam SRO that carry 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, placing COVAI ROAD ( III rd Street ) above the median with its 2024 value of Rs 952 per sq.ft.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 952 per sq.ft, the total guideline value would be Rs 9,52,000. The stamp duty at 7% would amount to Rs 66,640, while the registration fee at 2% would be Rs 19,040. Together, the total cost for these fees would be Rs 85,680. 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 COVAI ROAD ( III rd Street )?

The COVAI ROAD ( III rd Street ) is covered by 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 in property transactions in Kangeyam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the government receives the appropriate revenue from property transactions.

In essence, the guideline value serves as a benchmark for property pricing in the area. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of COVAI ROAD ( III rd Street )?

The current guideline value of COVAI ROAD ( III rd Street ) is Rs 952 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions. From Rs 850 per sq.ft in 2012, it dropped to Rs 569 per sq.ft in 2017, then rose to Rs 850 per sq.ft in 2023, and finally increased to Rs 952 per sq.ft in 2024.

What is the land classification for COVAI ROAD ( III rd Street )?

COVAI ROAD ( III rd Street ) is classified as Residential Class I Type - I under the Kangeyam SRO.

What are the stamp duty and registration fees for properties on this street?

The stamp duty for properties on COVAI ROAD ( III rd Street ) is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 85,680.

Which office handles the registration for COVAI ROAD ( III rd Street )?

The Kangeyam Sub Registrar Office handles the registration for COVAI ROAD ( III rd Street ). The office is located at No.8, Taluk Office Campus, Kangeyam - 638701, Coimbatore registration zone.