Guideline Value for Chithabaranathan Street

Chithabaranathan Street guideline value

The current guideline value of Chithabaranathan Street in Lakkampatti village is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Gobichettipalayam Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Chithabaranathan Street has changed

Over the years, the guideline value of Chithabaranathan Street has seen several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 67 per sq.ft. This increased to Rs 75 per sq.ft in 2003, marking a 12% rise. By 2007, the value further increased to Rs 106 per sq.ft, a change of 41%. The 2012 revision saw a significant jump to Rs 300 per sq.ft, reflecting an increase of 183%. However, in 2017, the value decreased to Rs 201 per sq.ft, a decline of 33%. The guideline value then remained at Rs 300 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2002 to 2024, the overall increase in the guideline value for Chithabaranathan Street is 348%. The revisions have shown fluctuations, with notable increases and decreases, but the current value reflects stability in the recent years.

Guideline values in Lakkampatti

In Lakkampatti, there are 128 streets under the Gobichettipalayam Joint I SRO, with guideline values for 2024 ranging from Rs 200 to Rs 450 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Chithabaranathan Street above this median with its current value of Rs 300 per sq.ft.

• College Colony: Rs 200 per sq.ft (2024)
• Chennappa Naidu Street: Rs 250 per sq.ft (2024)
• Duraisami Street (206): Rs 250 per sq.ft (2024)
• East Mariamman Kovil Street (202/1): Rs 250 per sq.ft (2024)
• Elango Street: Rs 250 per sq.ft (2024)
• Erode Sathy Main Road (83,84): Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Chithabaranathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is calculated at 7%, which totals Rs 21,000, and the registration fee is 2%, amounting to Rs 6,000. Therefore, the total cost for stamp duty and registration fees would be Rs 27,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Chithabaranathan Street?

The Sub Registrar Office that covers Chithabaranathan Street is the Gobichettipalayam Joint I Sub Registrar Office, located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Lakkampatti. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the duties owed, which can affect the overall cost of the transaction. It is essential for both parties to understand the implications of the guideline value on their financial obligations during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Chithabaranathan Street?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from 2007 to 2012, where it rose from Rs 106 to Rs 300 per sq.ft. The overall increase from 2002 to 2024 is 348%.

What is the median guideline value for streets in Lakkampatti?

The median guideline value for streets in Lakkampatti is Rs 275 per sq.ft, with Chithabaranathan Street's current value of Rs 300 per sq.ft being above this median.

What are the stamp duty and registration fees for properties in Chithabaranathan Street?

For a property valued at Rs 3,00,000, the stamp duty is Rs 21,000 and the registration fee is Rs 6,000, totaling Rs 27,000 for a 1,000 sq.ft plot.

Which office handles registrations for Chithabaranathan Street?

The Gobichettipalayam Joint I Sub Registrar Office is responsible for handling registrations for Chithabaranathan Street, located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone.