Guideline Value for Cholan Street (453/1)

Cholan Street (453/1) guideline value

The current guideline value of Cholan Street (453/1) is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in P.Mettupalayam village, under the Kavundapadi SRO, and is classified as Residential Class III Type - V.

How the guideline value of Cholan Street (453/1) has changed

The guideline value for Cholan Street (453/1) has seen several revisions over the years. In the 2002 revision, the value was Rs 38 per sq.ft, which increased to Rs 42 per sq.ft in 2003. The 2007 revision saw a further increase to Rs 46 per sq.ft, followed by a jump to Rs 100 per sq.ft in 2012. However, the value decreased to Rs 67 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintain the guideline value at Rs 200 per sq.ft.

From 2017 to 2023, the guideline value increased by 199%. Between 2012 and 2017, there was a decrease of 33%. The value rose by 117% from 2007 to 2012, and from 2003 to 2007, it increased by 10%. The overall increase from 2002 to 2024 is 426%.

Guideline values in P.Mettupalayam

In P.Mettupalayam, there are 65 streets under the Kavundapadi SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 300 per sq.ft, with a median value of Rs 200 per sq.ft. Cholan Street (453/1) has a 2024 figure that is equal to this median.

• Chinnasamy Street(507/1): Rs 200 per sq.ft (2024)
• Boomandigoundanur Main Road (434/2,3,4,443/1): Rs 200 per sq.ft (2024)
• Boomandigoundanur (420/1,2,421/1,2,3, 425/6,7,8): Rs 200 per sq.ft (2024)
• Elango Street (443/1): Rs 200 per sq.ft (2024)
• Elankeswaran Street (451): Rs 200 per sq.ft (2024)
• Erankadu Village East Gobi Part (548/2): Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Cholan Street (453/1)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 Cholan Street (453/1)?

The Sub Registrar Office that covers Cholan Street (453/1) is the Kavundapadi Sub Registrar Office, located at Marutham Nagar Bye-pass Road, Kavundapadi, 638455, Coimbatore registration zone. You can find your SRO here.

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

The guideline value is a crucial factor when buying or selling property in P.Mettupalayam. It serves as a benchmark for determining the value of the property for registration purposes and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects a fair value based on the official guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Cholan Street (453/1)?

The current guideline value of Cholan Street (453/1) is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 38 per sq.ft in 2002 to Rs 200 per sq.ft in 2024, showing an overall increase of 426% over the years.

What is the land classification for Cholan Street (453/1)?

Cholan Street (453/1) is classified as Residential Class III Type - V.

Where can I find the registration office for Cholan Street (453/1)?

The registration office for Cholan Street (453/1) is the Kavundapadi Sub Registrar Office, located at Marutham Nagar Bye-pass Road, Kavundapadi, 638455, Coimbatore registration zone.

How is stamp duty calculated for properties in P.Mettupalayam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.