Guideline Value for Chinnapallam

Chinnapallam guideline value

The current guideline value of Chinnapallam, located in Nerinjipettai village under the Ammapettai_Erode SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Chinnapallam has changed

The guideline value for Chinnapallam has seen several revisions over the years. The register shows that in 2002, the value was Rs 30 per sq.ft, which increased to Rs 49 per sq.ft in 2003. This was followed by a rise to Rs 67 per sq.ft in 2007, and a significant jump to Rs 200 per sq.ft in 2012. However, it dropped to Rs 134 per sq.ft in 2017 before stabilizing at Rs 200 per sq.ft in both 2023 and the upcoming 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 saw a decrease of 33%. The most notable increase was from 2007 to 2012, which was 199%. Overall, from 2002 to 2024, the guideline value has risen by 567%. The register has no figure for this street in the years not mentioned.

Guideline values in Nerinjipettai

In Nerinjipettai, there are 36 streets under the Ammapettai_Erode SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with the median being Rs 225 per sq.ft. Chinnapallam's 2024 figure is below this median.

• Chitthaiyan Nagar: Rs 150 per sq.ft (2024)
• Chitthaiyan Nagar - Kattu Kottai: Rs 100 per sq.ft (2024)
• Chen Street: Rs 250 per sq.ft (2024)
• Car Street: Rs 250 per sq.ft (2024)
• Diversion Road: Rs 200 per sq.ft (2024)
• Gori Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnapallam

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinnapallam?

The Sub Registrar Office that covers Chinnapallam is the Ammapettai_Erode Sub Registrar Office, located at Veterinayhospital Street, Ammapettai, Anthiyur Tk, Erode Dt-638311, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nerinjipettai. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction process.

When buying or selling property, the guideline value must be considered alongside the sale price. The higher of the two figures will be used to calculate the applicable duties and fees, ensuring that the transaction complies with local regulations.

Frequently asked questions

What is the current guideline value of Chinnapallam?

The current guideline value of Chinnapallam is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 30 per sq.ft in 2002 to Rs 200 per sq.ft in 2012, dropping to Rs 134 per sq.ft in 2017, and then stabilizing at Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for Chinnapallam?

Chinnapallam is classified under Residential Class I Type - II land classification.

What are the stamp duty and registration fees for property in Chinnapallam?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Chinnapallam located?

The Sub Registrar Office for Chinnapallam is located at Veterinayhospital Street, Ammapettai, Anthiyur Tk, Erode Dt-638311, Coimbatore registration zone.