Guideline Value for Chettiar Nagar

Chettiar Nagar guideline value

The current guideline value of Chettiar Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in Vadavalli village, under the Vadavalli SRO, and is classified as Commercial Special Type - II.

How the guideline value of Chettiar Nagar has changed

The guideline value for Chettiar Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 200 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 1,700 per sq.ft, marking a remarkable 750% increase. However, in 2017, the value dropped to Rs 1,139 per sq.ft, representing a decrease of 33%. The 2023 revision brought the value back up to Rs 1,700 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,870 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 835%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Vadavalli

In Vadavalli, there are 461 streets under the Vadavalli SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Chettiar Nagar is above this median.

• Chettiar Thottam: Rs 1,000 per sq.ft (2024)
• Chetti Thottam: Rs 1,000 per sq.ft (2024)
• Chinnasamy Gounder Street: Rs 1,000 per sq.ft (2024)
• Central Excise Colony: Rs 1,870 per sq.ft (2024)
• Cellarium Aahana: Rs 1,565 per sq.ft (2024)
• BSA Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chettiar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value is Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, making the total cost for these fees Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chettiar Nagar?

The Sub Registrar Office that covers Chettiar Nagar is 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 Vadavalli

The guideline value plays a crucial role in the registration of property transactions in Vadavalli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the official value of the property, ensuring that the correct fees are levied. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chettiar Nagar?

The current guideline value of Chettiar Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,870 per sq.ft in 2024, showing an overall increase of 835% over the years.

What is the land classification of Chettiar Nagar?

Chettiar Nagar is classified as Commercial Special Type - II.

Where can I find the registration office for Chettiar Nagar?

The registration office for Chettiar Nagar is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046.

How is the stamp duty calculated for properties in Chettiar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 at 7%.