Guideline Value for Councilor Lane

Councilor Lane guideline value

The current guideline value of Councilor Lane is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in the village of Peelamedu, under the Peelamedu SRO, and is classified as Residential Class II Type - I.

How the guideline value of Councilor Lane has changed

The guideline value for Councilor Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, the value then decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revisions showed a notable increase, with the 2023 revision setting the value at Rs 1,200 per sq.ft, and the latest 2024 revision raising it to Rs 1,320 per sq.ft, a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 230%. It is important to note that the register has no figures for Councilor Lane for the years 2002 and 2003.

Guideline values in Ward 10

In Ward 10, there are 224 streets under the Peelamedu SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Councilor Lane is below this median.

• CR Sundaram Layout: Rs 2,750 per sq.ft (2024)
• CSR Layout: Rs 2,750 per sq.ft (2024)
• C.M.C.Colony: Rs 2,200 per sq.ft (2024)
• Devaraj Muthaliyar Layout: Rs 2,750 per sq.ft (2024)
• Chitrampalam Layout: Rs 2,200 per sq.ft (2024)
• Dhadapani Road (or ) Street: Rs 3,025 per sq.ft (2024)

Stamp duty and registration fee for property in Councilor Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is essential to note that 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 Councilor Lane?

The Sub Registrar Office that covers Councilor Lane is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ward 10

The guideline value is a crucial factor in the registration process when buying or selling property in Ward 10. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Councilor Lane?

The current guideline value of Councilor Lane is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the guideline values of other streets in Ward 10?

Other streets in Ward 10 have varying guideline values, with rates ranging from Rs 1,000 to Rs 7,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for properties in Councilor Lane?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Councilor Lane?

The Peelamedu Sub Registrar Office handles property registrations for Councilor Lane, located at 6/1, Grd Road, Redfields, Coimbatore - 18.