Guideline Value for Chettiar Thottam

Chettiar Thottam guideline value

The current guideline value of Chettiar Thottam is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vadavalli village, under the Vadavalli SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chettiar Thottam has changed

Looking at the historical revisions of the guideline value for Chettiar Thottam, the earliest available figure is from 2012, which was Rs 800 per sq.ft. In 2017, this value increased to Rs 536 per sq.ft, representing a decrease of 33%. The next revision in 2023 saw the value rise to Rs 1,000 per sq.ft, marking an increase of 87% from the 2017 figure. The current revision in 2024 maintains this value at Rs 1,000 per sq.ft, indicating no change from the 2023 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Chettiar Thottam. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 25%.

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. The median value for these streets is Rs 1,100 per sq.ft, placing Chettiar Thottam's 2024 figure below this median.

• Chettiar Nagar: Rs 1,870 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 Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chettiar Thottam?

The Sub Registrar Office that covers Chettiar Thottam is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadavalli. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chettiar Thottam?

The current guideline value of Chettiar Thottam is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 1,000 per sq.ft. The value increased from Rs 536 per sq.ft in 2017 to Rs 1,000 in 2023, showing a significant rise over the years.

What are the stamp duty and registration fees for properties in Chettiar Thottam?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Chettiar Thottam?

The Vadavalli Sub Registrar Office covers Chettiar Thottam, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046.

What is the land classification of Chettiar Thottam?

Chettiar Thottam is classified as Residential Class I Type - II, which indicates its designation for residential use within the local planning framework.