Guideline Value for Cholipalayam Main street

Cholipalayam Main street guideline value

The current guideline value of Cholipalayam Main street is Rs 225 per sq.ft, effective from 1 July 2024. This street is located in Aval Poondurai village, under the Avalpoondurai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Cholipalayam Main street has changed

The guideline value for Cholipalayam Main street has seen significant changes over the years. In the 2003 revision, the value was set at Rs 24 per sq.ft, which increased to Rs 134 per sq.ft in 2017, marking a substantial change of +458%. The 2023 revision saw another increase to Rs 200 per sq.ft, which was a +49% change from the previous figure. The latest revision in 2024 raised the guideline value to Rs 225 per sq.ft, representing a +13% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2007, and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +838%.

Guideline values in Aval Poondurai

Aval Poondurai village has 50 streets under the Avalpoondurai SRO that carry a guideline value for 2024, ranging from Rs 225 to Rs 440 per sq.ft, with a median value of Rs 225 per sq.ft. Cholipalayam Main street's 2024 figure aligns with this median value.

• CholiPalayam Harijan Street: Rs 225 per sq.ft (2024)
• Chullikaddu Main Street: Rs 330 per sq.ft (2024)
• ChenniPalayam Main Street: Rs 225 per sq.ft (2024)
• Erappampalayam Harijan Coloney: Rs 225 per sq.ft (2024)
• Erappampalayam Main Street: Rs 225 per sq.ft (2024)
• Erappampalyam Chottai Street: Rs 225 per sq.ft (2024)

Stamp duty and registration fee for property in Cholipalayam Main street

For a 1,000 sq.ft plot at the current guideline value of Rs 225 per sq.ft, the total guideline value amounts to Rs 2,25,000. The stamp duty at 7% would be Rs 15,750, and the registration fee at 2% would be Rs 4,500, bringing the total fees to Rs 20,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Cholipalayam Main street?

The Cholipalayam Main street falls under the jurisdiction of the Avalpoondurai Sub Registrar Office, located at Kangeyam Main Road, Bus Stop, Avalpoondurai-638115, Modakurichi Taluk, Erode District. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Aval Poondurai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the transaction is recorded accurately and reflects the true value of the property in the eyes of the law.

Frequently asked questions

What is the current guideline value of Cholipalayam Main street?

The current guideline value of Cholipalayam Main street is Rs 225 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 24 per sq.ft in 2003 to Rs 225 per sq.ft in 2024, representing an overall increase of +838% over the years.

What are the stamp duty and registration fees for a property in Cholipalayam Main street?

For a 1,000 sq.ft plot at the guideline value of Rs 225 per sq.ft, the total guideline value is Rs 2,25,000. The stamp duty would be Rs 15,750, and the registration fee would be Rs 4,500, totaling Rs 20,250.

Which office handles the registration for Cholipalayam Main street?

The registration for Cholipalayam Main street is handled by the Avalpoondurai Sub Registrar Office, located at Kangeyam Main Road, Bus Stop, Avalpoondurai-638115, Modakurichi Taluk, Erode District.

What is the significance of the guideline value when buying property?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the government receives the correct revenue based on the property's value, reflecting its market position.