Guideline Value for Chakra Garden

Chakra Garden guideline value

The current guideline value of Chakra Garden in Pattanam village, under the Singanallur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Chakra Garden has changed

Over the years, the guideline value of Chakra Garden has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which then dropped to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in 2023, and further rose to Rs 330 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2024 revision, the overall change in the guideline value is an increase of 10%. The change from 2017 to 2023 was a notable increase of 49%, while the 2012 to 2017 period saw a decrease of 33% in the guideline value.

Guideline values in Pattanam

Pattanam village has a total of 220 streets under the Singanallur SRO, with guideline values ranging from Rs 165 to Rs 1,815 per sq.ft. The median guideline value for these streets is Rs 220 per sq.ft, placing Chakra Garden's 2024 figure above this median.

• Buvaragan Garden Phase I II III: Rs 220 per sq.ft (2024)
• Boyar Street: Rs 250 per sq.ft (2024)
• Boopathy Nagar: Rs 330 per sq.ft (2024)
• Church Street: Rs 220 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 165 per sq.ft (2024)
• Diamond Avenue: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Chakra Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty, charged at 7%, would be Rs 23,100, and the registration fee, charged at 2%, would be Rs 6,600. Together, these fees amount to Rs 29,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakra Garden?

The Chakra Garden area falls under the jurisdiction of the Singanallur Sub Registrar Office, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111, Coimbatore registration zone. You can find your SRO for more information.

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

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

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chakra Garden?

The current guideline value of Chakra Garden is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification of Chakra Garden?

Chakra Garden is classified as Residential Class I Type - I.

Where can I find the registration office for Chakra Garden?

The registration office for Chakra Garden is the Singanallur Sub Registrar Office, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111.

How is stamp duty calculated in Pattanam?

Stamp duty in Pattanam is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.