Guideline Value for Chellammal Nagar

Chellammal Nagar guideline value

The current guideline value of Chellammal Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Ward-3 village under the Coimbatore North Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Chellammal Nagar has changed

The guideline value for Chellammal Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 560 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in the 2012 revision. However, it dropped to Rs 1,206 per sq.ft in the 2017 revision. The 2023 revision saw a rise to Rs 1,800 per sq.ft, and the current 2024 revision marks another increase to Rs 2,000 per sq.ft.

From 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 257%.

Guideline values in Ward-3

In Ward-3, there are 82 streets under the Coimbatore North Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,800 per sq.ft. Chellammal Nagar's 2024 figure is above this median.

• Bye-pass Road: Rs 2,500 per sq.ft (2024)
• Chinnadurai Nagar: Rs 2,000 per sq.ft (2024)
• Chokkampudur Road (South Side) Lane: Rs 2,000 per sq.ft (2024)
• Chokkampudur Road (South Side) Main: Rs 2,000 per sq.ft (2024)
• Coimbatore Fruit Market: Rs 3,900 per sq.ft (2024)
• Dharmaraja Kovil Lane Lane: Rs 1,350 per sq.ft (2024)

Stamp duty and registration fee for property in Chellammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, making the total cost for these fees Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chellammal Nagar?

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

How the guideline value is used when you buy or sell in Ward-3

The guideline value is a crucial factor in the registration process when buying or selling property in Ward-3. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value as it directly impacts the overall cost of registration. Buyers and sellers should ensure they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chellammal Nagar?

The current guideline value of Chellammal Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 560 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 257% over the years.

What is the classification of land in Chellammal Nagar?

Chellammal Nagar is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

Where can I find the Sub Registrar Office for Chellammal Nagar?

The Sub Registrar Office for Chellammal Nagar is the Coimbatore North Joint 1 Sub Registrar Office, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001.

How is the stamp duty calculated for property in Chellammal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 at a rate of 7%.