Guideline Value for Cardwell Spinning Mills Area

Cardwell Spinning Mills Area guideline value

The current guideline value for the Cardwell Spinning Mills Area is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Narasimmanaickenpalayam village, under the Periyanayakkan Palayam SRO, and is classified as Residential Class III Type - V.

How the guideline value of Cardwell Spinning Mills Area has changed

The guideline value for Cardwell Spinning Mills Area has undergone several revisions over the years. The 2012 revision set the value at Rs 130 per sq.ft, which decreased to Rs 87 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value significantly increased to Rs 200 per sq.ft, marking a rise of 130%. The most recent revision in 2024 raised the guideline value to Rs 220 per sq.ft, representing a 10% increase from the previous year.

There are no figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 69%.

Guideline values in Narasimmanaickenpalayam

Narasimmanaickenpalayam has a total of 153 streets under the Periyanayakkan Palayam SRO, with guideline values ranging from Rs 220 to Rs 1,340 per sq.ft. The median value for these streets is Rs 310 per sq.ft, placing the Cardwell Spinning Mills Area's 2024 figure below that median.

• Chennamanaickenur: Rs 220 per sq.ft (2024)
• Bombay Nagar: Rs 220 per sq.ft (2024)
• Chitra Nagar: Rs 450 per sq.ft (2024)
• City Circle: Rs 1,340 per sq.ft (2024)
• Daimand Nagar: Rs 220 per sq.ft (2024)
• Deniel Nagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Cardwell Spinning Mills Area

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, making the total fees together Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Cardwell Spinning Mills Area?

The Cardwell Spinning Mills Area falls under the Periyanayakkan Palayam Sub Registrar Office, located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020, in the Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Narasimmanaickenpalayam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Cardwell Spinning Mills Area?

The current guideline value for Cardwell Spinning Mills Area is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 130 per sq.ft in 2012 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 69% over this period.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Cardwell Spinning Mills Area is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Periyanayakkan Palayam Sub Registrar Office is located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020.

What is the land classification for Cardwell Spinning Mills Area?

The land classification for Cardwell Spinning Mills Area is Residential Class III Type - V, indicating its designation for residential purposes.