Guideline Value for Chetty Street Main

Chetty Street Main guideline value

The current guideline value of Chetty Street Main is Rs 2,300 per sq.ft, effective from 1 July 2024. This street is located in Ward-4 village under the Coimbatore North Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of Chetty Street Main has changed

Over the years, the guideline value of Chetty Street Main has seen several revisions. The earliest recorded value was Rs 1,350 per sq.ft in 2007. This increased to Rs 2,100 per sq.ft in 2012, marking a significant rise of 56%. However, from 2012 to 2017, the value dropped to Rs 1,407 per sq.ft, a decrease of 33%. The value then climbed to Rs 2,100 per sq.ft in 2023, reflecting an increase of 49% from 2017. The most recent revision in 2024 set the guideline value at Rs 2,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Chetty Street Main in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 70%.

Guideline values in Ward-4

In Ward-4, there are 24 streets under the Coimbatore North Joint 1 SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 10,700 per sq.ft, with a median value of Rs 3,500 per sq.ft. The guideline value of Chetty Street Main is below this median.

• Chetty Street Lane: Rs 1,900 per sq.ft (2024)
• Chinna kadai Street: Rs 5,600 per sq.ft (2024)
• Chinna Kadai Street (Out side) Lane: Rs 5,600 per sq.ft (2024)
• Chinna Kadai Street (Out side) Main: Rs 5,600 per sq.ft (2024)
• Big Bazaar Street Main: Rs 6,800 per sq.ft (2024)
• Kamatchiamman Kovil Street Lane: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Street Main

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value is Rs 23,00,000. The stamp duty at 7% would be Rs 1,61,000, and the registration fee at 2% would be Rs 46,000, making the total Rs 2,07,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chetty Street Main?

The Sub Registrar Office that covers Chetty Street Main 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 information.

How the guideline value is used when you buy or sell in Ward-4

The guideline value plays a crucial role in the registration process when buying or selling property in Ward-4. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property rather than the sale price.

When a property is registered, the guideline value is checked to determine the applicable fees. Buyers and sellers must be aware that the higher amount between the guideline value and the sale price will be used for calculating these fees, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Chetty Street Main?

The current guideline value of Chetty Street Main is Rs 2,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,350 per sq.ft in 2007 to Rs 2,300 per sq.ft in 2024, reflecting a total increase of 70% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 23,00,000, the stamp duty would be Rs 1,61,000 and the registration fee would be Rs 46,000, totaling Rs 2,07,000.

Which Sub Registrar Office covers Chetty Street Main?

The Coimbatore North Joint 1 Sub Registrar Office covers Chetty Street Main, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is the higher of the guideline value or the sale price that determines the applicable fees.