Guideline Value for Carmel Nagar (Ward 15)

Carmel Nagar (Ward 15) guideline value

The current guideline value of Carmel Nagar (Ward 15) is Rs 1,035 per sq.ft, effective from 1 July 2024. This area is located in Kurichi village, under the Coimbatore North Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Carmel Nagar (Ward 15) has changed

The guideline value for Carmel Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which then changed to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 149%, bringing the value to Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,035 per sq.ft, reflecting a rise of 4% from the previous year.

It is noteworthy that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 73%.

Guideline values in Kurichi

In Kurichi, there are 536 streets under the Coimbatore North Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,040 per sq.ft. The guideline value for Carmel Nagar (Ward 15) is below this median.

• Castles Eden Enclave: Rs 1,035 per sq.ft (2024)
• Ceylon Colony (Ward 14): Rs 1,030 per sq.ft (2024)
• Bungalow (R.M.T) Street: Rs 1,075 per sq.ft (2024)
• Chandre Gounder Street (Ward 20): Rs 1,040 per sq.ft (2024)
• Chandre Gounder Street (Ward 21): Rs 1,040 per sq.ft (2024)
• Chathiram Street: Rs 1,055 per sq.ft (2024)

Stamp duty and registration fee for property in Carmel Nagar (Ward 15)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,035 per sq.ft, the total guideline value would be Rs 10,35,000. The stamp duty at 7% would amount to Rs 72,450, while the registration fee at 2% would be Rs 20,700, bringing the total cost for these fees to Rs 93,150. 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 Carmel Nagar (Ward 15)?

The Sub Registrar Office that covers Carmel Nagar (Ward 15) is the Coimbatore North Joint 1 Sub Registrar Office, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kurichi, as it determines the minimum price at which a property can be registered. This value is set by the registration department and is updated periodically to reflect changes in the market.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Carmel Nagar (Ward 15)?

The current guideline value of Carmel Nagar (Ward 15) is Rs 1,035 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 600 per sq.ft to Rs 1,035 per sq.ft in 2024, with significant fluctuations in between, including a drop to Rs 402 per sq.ft in 2017 and a rise to Rs 1,000 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Carmel Nagar?

For a property valued at Rs 10,35,000, the stamp duty would be Rs 72,450 and the registration fee would be Rs 20,700, totaling Rs 93,150.

Which Sub Registrar Office covers this area?

The Coimbatore North Joint 1 Sub Registrar Office covers Carmel Nagar (Ward 15), located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001.

What is the land classification of Carmel Nagar?

Carmel Nagar is classified as Residential Class II Type - II, indicating its designation for residential purposes within the area.