Guideline Value for Chitra colony 1,2

Chitra colony 1,2 guideline value

The current guideline value for Chitra colony 1,2 is Rs 1,120 per sq.ft, effective from 1 July 2024. This area is located in Uppilipalayam village and falls under the Singanallur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Chitra colony 1,2 has changed

The guideline value for Chitra colony 1,2 has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which then increased significantly to Rs 1,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 670 per sq.ft, before rising again to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 has brought the value to Rs 1,120 per sq.ft.

From 2007 to 2024, the overall increase in guideline value is 180%. Notably, the change from 2023 to 2024 is an increase of 12%. Other revisions that do not have figures for this street include the years 2002 and 2003.

Guideline values in Uppilipalayam

In Uppilipalayam, there are 361 streets under the Singanallur SRO, with guideline values ranging from Rs 1,001 to Rs 6,160 per sq.ft. The median guideline value for the area is Rs 1,232 per sq.ft, placing Chitra colony 1,2's 2024 figure below this median.

• Chitra gardens: Rs 1,232 per sq.ft (2024)
• Chinna thottam Street: Rs 1,001 per sq.ft (2024)
• Chinna Street: Rs 1,005 per sq.ft (2024)
• CKH-Thulasi Enclave: Rs 2,520 per sq.ft (2024)
• Chinna samy Layout: Rs 1,232 per sq.ft (2024)
• Chinnappa Street1,2: Rs 1,120 per sq.ft (2024)

Stamp duty and registration fee for property in Chitra colony 1,2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,120 per sq.ft, the total guideline value amounts to Rs 11,20,000. The stamp duty at 7% would be Rs 78,400, and the registration fee at 2% would be Rs 22,400, bringing the total fees to Rs 1,00,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chitra colony 1,2?

The Sub Registrar Office that covers Chitra colony 1,2 is the Singanallur Sub Registrar Office, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Uppilipalayam. It determines the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value. This value is used to calculate the stamp duty and registration fees payable during the transfer of property ownership.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall costs associated with the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value for Chitra colony 1,2?

The current guideline value for Chitra colony 1,2 is Rs 1,120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,120 per sq.ft in 2024, marking an overall increase of 180% over this period.

What is the land classification for Chitra colony 1,2?

The land classification for Chitra colony 1,2 is Residential Class I Type - III, indicating its suitability for residential development.

Which Sub Registrar Office is responsible for the registration in this area?

The Singanallur Sub Registrar Office, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111, is responsible for property registrations in Chitra colony 1,2.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,00,800.