Guideline Value for Cheran Street

Cheran Street guideline value

The current guideline value of Cheran Street in Chennimalai village is Rs 510 per sq.ft, effective from 1 July 2024. This property falls under the Chennimalai SRO and is classified as Residential Class I Type - II.

How the guideline value of Cheran Street has changed

The guideline value for Cheran Street has seen several revisions over the years. In 2002, the value was Rs 89 per sq.ft, which increased to Rs 107 per sq.ft in 2003. Following this, the guideline value rose to Rs 125 per sq.ft in 2007, and then to Rs 450 per sq.ft in 2012. However, there was a significant decrease to Rs 301 per sq.ft in 2017. The value then increased by 50% to Rs 450 per sq.ft in 2023, and finally, it was revised to Rs 510 per sq.ft in 2024, marking a 13% increase from the previous year.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 473% in the guideline value for Cheran Street.

Guideline values in Chennimalai

In Chennimalai, there are 71 streets under the Chennimalai SRO that carry a 2024 guideline value ranging from Rs 225 to Rs 920 per sq.ft, with a median value of Rs 340 per sq.ft. Cheran Street's guideline value of Rs 510 per sq.ft is above this median.

• Chidambaram pillai Street: Rs 340 per sq.ft (2024)
• Devasthana Kalyamandapa Street: Rs 340 per sq.ft (2024)
• Devasthana Kalyanamandapam Street: Rs 340 per sq.ft (2024)
• Gandhiji Street: Rs 340 per sq.ft (2024)
• Gandhi nagar: Rs 340 per sq.ft (2024)
• Arijana Colony 2: Rs 225 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 510 per sq.ft, the total guideline value amounts to Rs 5,10,000. The stamp duty at 7% would be Rs 35,700, and the registration fee at 2% would be Rs 10,200, bringing the total charges to Rs 45,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Cheran Street?

The Sub Registrar Office that covers Cheran Street is the Chennimalai Sub Registrar Office, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chennimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cheran Street?

The current guideline value of Cheran Street is Rs 510 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 89 per sq.ft in 2002 to Rs 510 per sq.ft in 2024, showing an overall increase of 473%.

What are the stamp duty and registration fees for a property on Cheran Street?

For a property of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 5,10,000, with stamp duty of Rs 35,700 and registration fees of Rs 10,200, totaling Rs 45,900.

Which Sub Registrar Office is responsible for Cheran Street?

The Chennimalai Sub Registrar Office is responsible for Cheran Street, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051.

What is the range of guideline values for other streets in Chennimalai?

The guideline values for other streets in Chennimalai range from Rs 225 to Rs 920 per sq.ft, with a median value of Rs 340 per sq.ft.