Guideline Value for Cheran Nagar Backside

Cheran Nagar Backside guideline value

The current guideline value of Cheran Nagar Backside is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Kavundampalayam village under the Vadavalli SRO and is classified as Residential Class I Type - II.

How the guideline value of Cheran Nagar Backside has changed

In the 2012 revision, the guideline value was Rs 800 per sq.ft. This increased to Rs 536 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, reflecting an increase of 87%. The 2024 revision has maintained this rate, showing no change from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Kavundampalayam

Kavundampalayam village has a total of 565 streets under the Vadavalli SRO, with guideline values ranging from Rs 1,000 to Rs 4,405 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which matches the 2024 figure for Cheran Nagar Backside.

• Cheran Nagar A,B,C Extension: Rs 1,000 per sq.ft (2024)
• Cheran Nagar: Rs 1,325 per sq.ft (2024)
• Chettiar Amma Kadu 1st Street: Rs 1,000 per sq.ft (2024)
• Chettiar Amma Kadu 2nd Street: Rs 1,000 per sq.ft (2024)
• Chinnammal Layout: Rs 1,015 per sq.ft (2024)
• Brindhavan Nagar(126): Rs 1,020 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Nagar Backside

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cheran Nagar Backside?

The Cheran Nagar Backside area falls under the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is crucial to ensure that the sale price is not below the guideline value to avoid complications during the registration process. The guideline value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Cheran Nagar Backside?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,000 per sq.ft in 2024, with significant changes occurring in 2017 and 2023.

What is the land classification for Cheran Nagar Backside?

Cheran Nagar Backside is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Cheran Nagar Backside?

The Sub Registrar Office covering Cheran Nagar Backside is located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046.

How is the stamp duty calculated for properties in Cheran Nagar Backside?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000.