Guideline Value for Devasthana Kalyamandapa Street

Devasthana Kalyamandapa Street guideline value

The current guideline value of Devasthana Kalyamandapa Street is Rs 340 per sq.ft, effective from 1 July 2024. This street is located in Chennimalai village, under the Chennimalai SRO, and is classified as Residential Class I Type - III.

How the guideline value of Devasthana Kalyamandapa Street has changed

The guideline value for Devasthana Kalyamandapa Street has seen several revisions over the years. In 2002, the guideline value was Rs 371 per sq.ft, which decreased to Rs 77 per sq.ft in 2003. The value then increased to Rs 80 per sq.ft in 2007, followed by a significant rise to Rs 300 per sq.ft in 2012. However, by 2017, the value dropped to Rs 201 per sq.ft. The most recent revisions show an increase to Rs 300 per sq.ft in 2023, and a further increase to Rs 340 per sq.ft in 2024, marking a 13% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has decreased by 8%. The changes between the revisions are as follows: from 2002 to 2003, there was a decrease of 79%; from 2003 to 2007, the value increased by 4%; from 2007 to 2012, there was a significant increase of 275%; however, from 2012 to 2017, the value decreased by 33%. The subsequent increase from 2017 to 2023 was 49%, leading to the current value of Rs 340 per sq.ft.

Guideline values in Chennimalai

In Chennimalai, there are 71 streets under the Chennimalai SRO that carry a 2024 guideline value ranging from Rs 225 to Rs 920 per sq.ft. The median value is Rs 340 per sq.ft, which is equal to the guideline value of Devasthana Kalyamandapa Street.

• Devasthana Kalyanamandapam Street: Rs 340 per sq.ft (2024)
• Chidambaram pillai Street: Rs 340 per sq.ft (2024)
• Cheran Street: Rs 510 per sq.ft (2024)
• Gandhiji Street: Rs 340 per sq.ft (2024)
• Gandhi nagar: Rs 340 per sq.ft (2024)
• kamarajar Street: Rs 340 per sq.ft (2024)

Stamp duty and registration fee for property in Devasthana Kalyamandapa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 340 per sq.ft, the total guideline value amounts to Rs 3,40,000. The stamp duty at 7% would be Rs 23,800, and the registration fee at 2% would be Rs 6,800, totaling Rs 30,600. Please 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 Devasthana Kalyamandapa Street?

The Sub Registrar Office that covers Devasthana Kalyamandapa Street is the Chennimalai Sub Registrar Office, located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051, Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chennimalai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value is assessed to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the land and the property being transferred.

Frequently asked questions

What is the current guideline value of Devasthana Kalyamandapa Street?

The current guideline value of Devasthana Kalyamandapa Street is Rs 340 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 371 per sq.ft in 2002 to Rs 340 per sq.ft in 2024, with various increases and decreases in between, including a significant rise from Rs 300 per sq.ft in 2023 to Rs 340 per sq.ft in 2024.

What is the stamp duty for property in Devasthana Kalyamandapa Street?

The stamp duty for property in Devasthana Kalyamandapa Street is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 23,800 based on the current guideline value.

Which Sub Registrar Office covers this street?

The Chennimalai Sub Registrar Office covers Devasthana Kalyamandapa Street. It is located at 31, Engur Road, Balamurugan Theater Bus Stop, Chennimalai, Perundurai Tk, Erode-638051, Coimbatore registration zone.

What is the land classification for Devasthana Kalyamandapa Street?

Devasthana Kalyamandapa Street is classified as Residential Class I Type - III. This classification indicates the type of residential development permitted in the area.