Guideline Value for Cheran Nagar

Cheran Nagar guideline value

The current guideline value of Cheran Nagar, located in Kannampalayam village under the Sulur SRO, is Rs 896 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Cheran Nagar has changed

Over the years, the guideline value for Cheran Nagar has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased to Rs 800 per sq.ft in the 2023 revision, and finally, it has risen to Rs 896 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

In terms of percentage changes, from 2017 to 2023, the guideline value increased by 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a net increase of 12%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 114 streets under the Sulur SRO that carry a 2024 guideline value ranging from Rs 224 to Rs 1,800 per sq.ft, with a median value of Rs 336 per sq.ft. Cheran Nagar's 2024 figure of Rs 896 per sq.ft is above this median.

• Chennimalai Gounder Street: Rs 448 per sq.ft (2024)
• Chinna Rame Gounder Street: Rs 448 per sq.ft (2024)
• Chinna Thottam: Rs 224 per sq.ft (2024)
• Chinndhamanipudur: Rs 448 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 224 per sq.ft (2024)
• E.B.Colony: Rs 224 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 896 per sq.ft, the total guideline value amounts to Rs 8,96,000. The stamp duty at 7% would be Rs 62,720, and the registration fee at 2% would be Rs 17,920, bringing the total cost for these charges to Rs 80,640. 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 on these charges.

Which Sub Registrar Office covers Cheran Nagar?

The Sub Registrar Office that covers Cheran Nagar is the Sulur Sub Registrar Office, located at Old.no.113, 114 New No.423 Tiruchy Road, Sulur - 641402, Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kannampalayam. It determines the minimum value at which the property must be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point to establish the transaction price. Buyers and sellers must consider this value to comply with legal requirements 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 896 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 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 896 per sq.ft in 2024.

What is the land classification of Cheran Nagar?

Cheran Nagar is classified as Commercial Class I Type - I according to the guideline value register.

What are the stamp duty and registration fees in Cheran Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 80,640.

Which office handles registrations for Cheran Nagar?

The Sulur Sub Registrar Office handles registrations for Cheran Nagar, located at Old.no.113, 114 New No.423 Tiruchy Road, Sulur - 641402, Coimbatore registration zone.