Guideline Value for Chokkalingam Lane

Chokkalingam Lane guideline value

The current guideline value of Chokkalingam Lane is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Mettupalayam village, under the Mettupalayam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Chokkalingam Lane has changed

The guideline value for Chokkalingam Lane has undergone several revisions since 2002. In 2002, the value was Rs 116 per sq.ft, which increased to Rs 130 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 285 per sq.ft in 2007, which was a 119% change. Following this, the value jumped to Rs 600 per sq.ft in 2012, reflecting an increase of 111%. However, the value decreased to Rs 402 per sq.ft in 2017, which was a decline of 33%. The guideline value remained at Rs 600 per sq.ft in 2023 and again in 2024, indicating no change between these two revisions.

Overall, from 2002 to 2024, the guideline value has increased by 417%. The register does not contain figures for any other years for this street.

Guideline values in Mettupalayam

In Mettupalayam, there are 327 streets under the Mettupalayam SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Chokkalingam Lane's 2024 figure below that median.

• Christian Colony: Rs 600 per sq.ft (2024)
• Colony Road: Rs 1,000 per sq.ft (2024)
• Chinna Pallivasal Street West Side: Rs 1,000 per sq.ft (2024)
• Chinna Pallivasal Street Main Road: Rs 1,000 per sq.ft (2024)
• Chinna Pallivasal Street: Rs 1,000 per sq.ft (2024)
• Co-operative Colony Main Road: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chokkalingam Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chokkalingam Lane?

The Sub Registrar Office that covers Chokkalingam Lane is the Mettupalayam Sub Registrar Office, located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mettupalayam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chokkalingam Lane?

The current guideline value of Chokkalingam Lane is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 116 per sq.ft in 2002 to Rs 600 per sq.ft in 2024, a total increase of 417% over this period.

What are the stamp duty rates for property transactions in Chokkalingam Lane?

The stamp duty rate for property transactions in Chokkalingam Lane is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Mettupalayam?

The Mettupalayam Sub Registrar Office handles property registrations in Mettupalayam. It is located at 271-Coimbatore Main Road, Near Mettupalayam Bus Stand.

What is the median guideline value of streets in Mettupalayam?

The median guideline value for streets in Mettupalayam is Rs 700 per sq.ft, while Chokkalingam Lane's 2024 figure is below this median at Rs 600 per sq.ft.