Guideline Value for Chinnasowripalayam Street 1 to 6

Chinnasowripalayam Street 1 to 6 guideline value

The current guideline value for Chinnasowripalayam Street 1 to 6 is Rs 2,300 per sq.ft, effective from 1 July 2024. This street is located in Sowripalayam village, under the Peelamedu SRO, and is classified as Residential Class III Type - I.

How the guideline value of Chinnasowripalayam Street 1 to 6 has changed

The guideline value for Chinnasowripalayam Street 1 to 6 has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 507 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 294%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally rose to the current value of Rs 2,300 per sq.ft in 2024, reflecting a 15% increase.

There are no recorded figures for Chinnasowripalayam Street in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 354%.

Guideline values in Sowripalayam

In Sowripalayam village, there are 186 streets under the Peelamedu SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,800 per sq.ft. The median value is Rs 2,300 per sq.ft, which is the same as the current guideline value for Chinnasowripalayam Street 1 to 6.

• Church Street 1 to 4: Rs 2,300 per sq.ft (2024)
• Cmc Colony: Rs 2,300 per sq.ft (2024)
• Bound Road: Rs 2,200 per sq.ft (2024)
• Dispensary Road or Lane: Rs 2,300 per sq.ft (2024)
• Duraisamy Layout: Rs 3,850 per sq.ft (2024)
• Durisamy Layout (Peelamedu pudur): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnasowripalayam Street 1 to 6

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value amounts to 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, bringing the total fees to 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinnasowripalayam Street 1 to 6?

The Sub Registrar Office that covers Chinnasowripalayam Street 1 to 6 is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sowripalayam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When a property is sold, the guideline value helps determine the official documentation and financial obligations involved in the transaction. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Chinnasowripalayam Street 1 to 6?

The current guideline value for Chinnasowripalayam Street 1 to 6 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 507 per sq.ft in 2007 to Rs 2,300 per sq.ft in 2024, reflecting an overall increase of 354% over the years.

What is the land classification for Chinnasowripalayam Street 1 to 6?

The land classification for Chinnasowripalayam Street 1 to 6 is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Chinnasowripalayam Street 1 to 6 is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 23,00,000 would incur a stamp duty of Rs 1,61,000 at a rate of 7%.