Guideline Value for Cheran Nagar

Cheran Nagar guideline value

The current guideline value of Cheran Nagar, located in Karamadai village under the Mettupalayam SRO, is Rs 785 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification.

How the guideline value of Cheran Nagar has changed

Looking at the historical revisions, the guideline value for Cheran Nagar has seen several changes. The 2012 revision set the value at Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then rose again to the current value of Rs 785 per sq.ft in 2024, marking a 12% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 12%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karamadai

In Karamadai village, there are 180 streets under the Mettupalayam SRO with a 2024 guideline value ranging from Rs 340 to Rs 1,680 per sq.ft. The median value for these streets is Rs 800 per sq.ft, indicating that Cheran Nagar's current guideline value is below this median.

• Chettiar street (Ward 11): Rs 1,120 per sq.ft (2024)
• Bujinga Gowder Street (Ward 2): Rs 800 per sq.ft (2024)
• Coffee Gudan Street (Ward 19): Rs 800 per sq.ft (2024)
• Coimbatore mainroad (Ward 13): Rs 1,680 per sq.ft (2024)
• Coimbatore Mettupalayam Main Road (Ward 2): Rs 1,680 per sq.ft (2024)
• Cycle Shop Ramasamy Street (Ward 18): Rs 1,120 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 785 per sq.ft, the total guideline value would be Rs 7,85,000. The stamp duty at 7% would amount to Rs 54,950, and the registration fee at 2% would be Rs 15,700, bringing the total fees to Rs 70,650. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Cheran Nagar?

The Sub Registrar Office that covers Cheran Nagar 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 further assistance.

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

The guideline value is a crucial factor when registering a property in Karamadai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

Frequently asked questions

What is the current guideline value of Cheran Nagar?

The current guideline value of Cheran Nagar is Rs 785 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 785 per sq.ft in 2024.

What is the median guideline value in Karamadai?

The median guideline value in Karamadai is Rs 800 per sq.ft, with Cheran Nagar's current value being below this median.

What fees are involved in the registration process for property in Cheran Nagar?

The registration process involves a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Cheran Nagar located?

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