Guideline Value for Chennappa Naidu Street

Chennappa Naidu Street guideline value

The current guideline value of Chennappa Naidu Street, located in Lakkampatti village under the Gobichettipalayam Joint I SRO, is Rs 250 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Chennappa Naidu Street has changed

The guideline value for Chennappa Naidu Street has undergone several revisions over the years. Starting from the earliest revision in 2002, the value was set at Rs 50 per sq.ft. This increased to Rs 56 per sq.ft in 2003, followed by a rise to Rs 75 per sq.ft in 2007. In 2012, the value saw a significant jump to Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it was adjusted to Rs 167 per sq.ft. The guideline value then returned to Rs 250 per sq.ft in 2023 and has remained the same for the 2024 revision.

Looking at the changes between these revisions, from 2002 to 2003, there was an increase of 12%. The value then rose by 34% from 2003 to 2007. The 2007 to 2012 revision saw a decrease of 33%. From 2012 to 2017, the value dropped to Rs 167 per sq.ft, before increasing by 50% to reach Rs 250 per sq.ft in 2023. The current revision in 2024 has not changed from the previous year, maintaining the value at Rs 250 per sq.ft.

Guideline values in Lakkampatti

In Lakkampatti, there are 128 streets under the Gobichettipalayam Joint I SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 450 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Chennappa Naidu Street's 2024 figure below that median.

• Chithabaranathan Street: Rs 300 per sq.ft (2024)
• College Colony: Rs 200 per sq.ft (2024)
• Duraisami Street (206): Rs 250 per sq.ft (2024)
• East Mariamman Kovil Street (202/1): Rs 250 per sq.ft (2024)
• Elango Street: Rs 250 per sq.ft (2024)
• Erode Sathy Main Road (83,84): Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Chennappa Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, leading to a total of Rs 22,500 for these charges. 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 Chennappa Naidu Street?

The Sub Registrar Office that covers Chennappa Naidu Street is the Gobichettipalayam Joint I Sub Registrar Office, located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Lakkampatti. It serves as a benchmark for determining the stamp duty and registration fees that are payable during the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are applied. This value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Chennappa Naidu Street?

The current guideline value of Chennappa Naidu Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 50 per sq.ft in 2002 to Rs 250 per sq.ft in 2024, with several revisions in between.

What is the land classification for Chennappa Naidu Street?

Chennappa Naidu Street is classified as Residential Class I Type - II, which influences its guideline value.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Where can I find the Sub Registrar Office for Chennappa Naidu Street?

The Gobichettipalayam Joint I Sub Registrar Office is located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone.