Guideline Value for Chitthaiyan Nagar

Chitthaiyan Nagar guideline value

The current guideline value of Chitthaiyan Nagar, located in Nerinjipettai village, is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under the Ammapettai_Erode SRO and is classified as Residential Class I Type - III.

How the guideline value of Chitthaiyan Nagar has changed

The guideline value for Chitthaiyan Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 20 per sq.ft. This figure increased significantly to Rs 31 per sq.ft in 2007, marking a 55% rise. The value then soared to Rs 150 per sq.ft in 2012, reflecting a remarkable 384% increase. However, it decreased to Rs 101 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again to Rs 200 per sq.ft in 2023, showing a 98% rise. The most recent revision in 2024 has set the guideline value at Rs 150 per sq.ft, which is a decrease of 25% from the previous year.

It is important to note that there is no figure available for Chitthaiyan Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 650%.

Guideline values in Nerinjipettai

Nerinjipettai village has 36 streets under the Ammapettai_Erode SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 225 per sq.ft. The guideline value of Chitthaiyan Nagar is below this median.

• Chitthaiyan Nagar - Kattu Kottai: Rs 100 per sq.ft (2024)
• Chinnapallam: Rs 200 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 Chitthaiyan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the 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 Chitthaiyan Nagar?

The Sub Registrar Office that covers Chitthaiyan Nagar is the Ammapettai_Erode Sub Registrar Office, located at Veterinary Hospital 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 an essential factor when registering property transactions in Nerinjipettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value ensures that the transaction is recorded accurately for legal purposes. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Chitthaiyan Nagar?

The current guideline value of Chitthaiyan Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 20 per sq.ft in 2003 to Rs 150 per sq.ft in 2012, then decreasing to Rs 101 per sq.ft in 2017, and rising to Rs 200 per sq.ft in 2023 before settling at Rs 150 per sq.ft in 2024.

What is the land classification of Chitthaiyan Nagar?

Chitthaiyan Nagar is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Chitthaiyan Nagar?

The Sub Registrar Office for Chitthaiyan Nagar is the Ammapettai_Erode Sub Registrar Office, located at Veterinary Hospital Street, Ammapettai, Anthiyur Tk, Erode Dt-638311, Coimbatore registration zone.

How is stamp duty calculated for properties in Chitthaiyan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,50,000, the stamp duty at 7% would be Rs 10,500.