Guideline Value for Chettiar Colony

Chettiar Colony guideline value

The current guideline value for Chettiar Colony in Kurichi village, under the Coimbatore North Joint 1 SRO, is Rs 1,055 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Chettiar Colony has changed

Over the years, the guideline value of Chettiar Colony has seen significant changes. The earliest recorded revision was in 2003, where the value was Rs 103 per sq.ft. This increased to Rs 160 per sq.ft in 2007, marking a 55% rise. The 2012 revision saw a further increase to Rs 800 per sq.ft, which was a substantial jump of 400%. However, in 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,055 per sq.ft, reflecting a 6% increase.

Overall, from 2003 to 2024, the guideline value has increased by 924%. The register does not have a figure for the year 2002 for this street.

Guideline values in Kurichi

In Kurichi village, there are 536 streets under the Coimbatore North Joint 1 SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value is Rs 1,040 per sq.ft, placing the guideline value of Chettiar Colony above this median.

• Cheran Nagar Vellalore Road (Ward 9): Rs 1,040 per sq.ft (2024)
• Chettipalayam Road: Rs 1,075 per sq.ft (2024)
• Chettipalayam Road (Ward 9): Rs 1,075 per sq.ft (2024)
• Chinnammal Street (Ward 7): Rs 1,035 per sq.ft (2024)
• Chathiram Street: Rs 1,055 per sq.ft (2024)
• Chandre Gounder Street (Ward 21): Rs 1,040 per sq.ft (2024)

Stamp duty and registration fee for property in Chettiar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,055 per sq.ft, the total guideline value would be Rs 10,55,000. The stamp duty at 7% would be Rs 73,850, and the registration fee at 2% would be Rs 21,100, making a total of Rs 94,950. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chettiar Colony?

The Chettiar Colony is covered by the Coimbatore North Joint 1 Sub Registrar Office, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is crucial for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property's worth.

Frequently asked questions

What is the current guideline value of Chettiar Colony?

The current guideline value of Chettiar Colony is Rs 1,055 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 103 per sq.ft in 2003 to Rs 1,055 per sq.ft in 2024, reflecting an overall increase of 924% over this period.

What is the land classification of Chettiar Colony?

Chettiar Colony is classified as Residential Class I Type - III, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 10,55,000, the stamp duty would be Rs 73,850 and the registration fee would be Rs 21,100, totaling Rs 94,950.

Which office handles property registrations in Chettiar Colony?

The Coimbatore North Joint 1 Sub Registrar Office handles property registrations for Chettiar Colony, located at District Registrar Office, Syryan Church Road, Coimbatore -641001.