Guideline Value for Chidambaram pillai Street

Chidambaram pillai Street guideline value

The current guideline value of Chidambaram pillai Street is Rs 340 per sq.ft, effective from 1 July 2024. This street is located in Chennimalai village, under the Chennimalai SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Chidambaram pillai Street has changed

Over the years, the guideline value of Chidambaram pillai Street has undergone several revisions. The register shows that in 2002, the guideline value was Rs 381 per sq.ft. This figure decreased to Rs 98 per sq.ft in 2003, then rose slightly to Rs 100 per sq.ft in 2007. In 2012, it was Rs 300 per sq.ft, before falling to Rs 201 per sq.ft in 2017. The value then increased significantly to Rs 300 per sq.ft in 2023 and finally reached Rs 340 per sq.ft in the 2024 revision.

The changes between these revisions are notable. From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 was 13%. However, the period from 2012 to 2017 saw a decrease of 33%, and the increase from 2007 to 2012 was a substantial 200%. Overall, from 2002 to 2024, the guideline value has decreased by 11%.

Guideline values in Chennimalai

Chennimalai village has a total of 71 streets under the Chennimalai SRO, with 2024 guideline values ranging from Rs 225 to Rs 920 per sq.ft. The median guideline value for these streets is Rs 340 per sq.ft, which is equal to the current guideline value of Chidambaram pillai Street.

• Cheran Street: Rs 510 per sq.ft (2024)
• Devasthana Kalyamandapa Street: Rs 340 per sq.ft (2024)
• Devasthana Kalyanamandapam Street: Rs 340 per sq.ft (2024)
• Gandhiji Street: Rs 340 per sq.ft (2024)
• Gandhi nagar: Rs 340 per sq.ft (2024)
• Arijana Colony 2: Rs 225 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaram pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 340 per sq.ft, the total guideline value would be Rs 3,40,000. The stamp duty at 7% would amount to Rs 23,800, and the registration fee at 2% would be Rs 6,800, bringing the total fees to Rs 30,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Chidambaram pillai Street?

The Sub Registrar Office that covers Chidambaram pillai Street is the Chennimalai Sub Registrar Office, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051, Coimbatore registration zone. You can find your SRO for more details.

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

When buying or selling property in Chennimalai, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Chidambaram pillai Street?

The current guideline value of Chidambaram pillai Street is Rs 340 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 381 per sq.ft in 2002 to Rs 340 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value for streets in Chennimalai?

The median guideline value for the 71 streets in Chennimalai is Rs 340 per sq.ft, which is the same as the guideline value for Chidambaram pillai Street.

What are the stamp duty and registration fees for property in Chidambaram pillai Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,40,000, with stamp duty of Rs 23,800 and registration fee of Rs 6,800, totaling Rs 30,600.

Which office handles registrations for Chidambaram pillai Street?

The Chennimalai Sub Registrar Office handles registrations for Chidambaram pillai Street, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051, Coimbatore registration zone.