Guideline Value for Chitra Nagar

Chitra Nagar guideline value

The current guideline value of Chitra Nagar, located in Narasimmanaickenpalayam village under the Periyanayakkan Palayam SRO, is Rs 450 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Chitra Nagar has changed

The guideline value for Chitra Nagar has undergone several revisions since 2007. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017. The value then rose to Rs 400 per sq.ft in 2023, and currently stands at Rs 450 per sq.ft as of the 2024 revision.

Between the revisions, the changes are notable. From 2007 to 2012, there was a remarkable increase of 300%. However, from 2012 to 2017, the value decreased by 33%. The guideline value then saw a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 13% increase, marking an overall increase of 350% from 2007 to 2024.

Guideline values in Narasimmanaickenpalayam

Narasimmanaickenpalayam village has a total of 153 streets under the Periyanayakkan Palayam SRO, with guideline values ranging from Rs 220 to Rs 1,340 per sq.ft as of 2024. The median guideline value for the village is Rs 310 per sq.ft, placing Chitra Nagar's 2024 figure above this median.

• City Circle: Rs 1,340 per sq.ft (2024)
• Daimand Nagar: Rs 220 per sq.ft (2024)
• Deniel Nagar: Rs 450 per sq.ft (2024)
• Deniel Nagar Extension: Rs 380 per sq.ft (2024)
• Chennamanaickenur: Rs 220 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Chitra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value would be Rs 4,50,000. The stamp duty at 7% would amount to Rs 31,500, and the registration fee at 2% would be Rs 9,000, resulting in a total of Rs 40,500 for these charges. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chitra Nagar?

The Sub Registrar Office that covers Chitra Nagar is the Periyanayakkan Palayam Sub Registrar Office, located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Narasimmanaickenpalayam. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to consider this value during negotiations, as it influences the overall costs associated with the transaction, including taxes and fees.

Frequently asked questions

What is the current guideline value of Chitra Nagar?

The current guideline value of Chitra Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 450 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What is the median guideline value in Narasimmanaickenpalayam?

The median guideline value in Narasimmanaickenpalayam is Rs 310 per sq.ft, with Chitra Nagar's current value being above this median.

What are the stamp duty and registration fees for a property in Chitra Nagar?

For a property valued at Rs 4,50,000, the stamp duty would be Rs 31,500 and the registration fee would be Rs 9,000, totaling Rs 40,500.

Where is the Sub Registrar Office for Chitra Nagar located?

The Sub Registrar Office for Chitra Nagar is located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020.