Guideline Value for Chettipalayam Road

Chettipalayam Road guideline value

The current guideline value of Chettipalayam Road is Rs 1,075 per sq.ft as per the 2024 revision, effective from 1 July 2024. This road is located in Kurichi village under the Coimbatore North Joint 1 SRO, and the land classification is Residential Special Type - IV.

How the guideline value of Chettipalayam Road has changed

The guideline value for Chettipalayam Road has undergone several revisions over the years. The 2012 revision recorded a value of Rs 950 per sq.ft, which decreased to Rs 636 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then further to Rs 1,075 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 13%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The guideline value saw a substantial increase of 57% from 2017 to 2023, indicating a notable change in the property valuation during that period.

Guideline values in Kurichi

In Kurichi village, there are 536 streets under the Coimbatore North Joint 1 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 1,040 per sq.ft, placing Chettipalayam Road's 2024 figure above that median.

• Chettipalayam Road (Ward 9): Rs 1,075 per sq.ft (2024)
• Chettiar Colony: Rs 1,055 per sq.ft (2024)
• Cheran Nagar Vellalore Road (Ward 9): Rs 1,040 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 Chettipalayam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,075 per sq.ft, the total guideline value amounts to Rs 10,75,000. The stamp duty at 7% would be Rs 75,250, and the registration fee at 2% would be Rs 21,500, bringing the total charges to Rs 96,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Chettipalayam Road?

The Sub Registrar Office that covers Chettipalayam Road is 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 details.

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

The guideline value is a crucial factor when registering a property in Kurichi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation according to government standards.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that these costs are essential components of the overall expense involved in property transactions.

Frequently asked questions

What is the current guideline value of Chettipalayam Road?

The current guideline value of Chettipalayam Road is Rs 1,075 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 950 per sq.ft in 2012 to Rs 636 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,075 per sq.ft in 2024.

What is the land classification for Chettipalayam Road?

Chettipalayam Road is classified as Residential Special Type - IV, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Chettipalayam Road?

The Sub Registrar Office covering Chettipalayam Road is the Coimbatore North Joint 1 Sub Registrar Office, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.