Guideline Value for Chatthiram Road

Chatthiram Road guideline value

The current guideline value of Chatthiram Road, located in Mettupalayam village under the Mettupalayam SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - II land classification.

How the guideline value of Chatthiram Road has changed

The guideline value for Chatthiram Road has undergone several revisions over the years. In 2002, the value was Rs 85 per sq.ft, which increased to Rs 96 per sq.ft in 2003, marking a 13% rise. The value saw a significant jump to Rs 255 per sq.ft in 2007, reflecting a 166% increase. By 2012, the guideline value was Rs 500 per sq.ft, showing a 96% increase from the previous revision. However, in 2017, it decreased to Rs 335 per sq.ft, a drop of 33%. The value remained at Rs 500 per sq.ft for the 2023 revision and continued at the same rate for the 2024 revision, indicating no change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by 488%. Notably, there are no figures available for the revisions in years other than those specified for this street.

Guideline values in Mettupalayam

In Mettupalayam, there are 327 streets under the Mettupalayam SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Chatthiram Road is below this median.

• Boraiah Road: Rs 800 per sq.ft (2024)
• Chinnammal Lay-out Near Main Road: Rs 1,000 per sq.ft (2024)
• Booshthi Odai Street: Rs 500 per sq.ft (2024)
• Chinna Pallivasal Street: Rs 1,000 per sq.ft (2024)
• Chinna Pallivasal Street Main Road: Rs 1,000 per sq.ft (2024)
• Chinna Pallivasal Street West Side: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Chatthiram Road

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chatthiram Road?

The Sub Registrar Office that covers Chatthiram Road is the Mettupalayam Sub Registrar Office, located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Mettupalayam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value helps establish the minimum value for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chatthiram Road?

The current guideline value of Chatthiram Road is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 85 per sq.ft in 2002 to Rs 500 per sq.ft in 2024, reflecting an overall increase of 488% over the years.

What is the stamp duty for property on Chatthiram Road?

The stamp duty for property on Chatthiram Road is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 35,000.

Where is the Sub Registrar Office for Chatthiram Road located?

The Sub Registrar Office for Chatthiram Road is located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for taxation and helps ensure compliance with local regulations.