Guideline Value for Devi Nagar

Devi Nagar guideline value

The current guideline value of Devi Nagar, located in Karamadai village under the Mettupalayam SRO, is Rs 800 per sq.ft. This value is effective from the 2024 revision, which took place on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Devi Nagar has changed

The guideline value for Devi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This increased to Rs 536 per sq.ft in the 2017 revision, marking a 34% rise. The value then jumped to Rs 800 per sq.ft in the 2023 revision, reflecting a significant increase of 49%. The 2024 revision maintained this value at Rs 800 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has doubled, increasing by 100%.

Guideline values in Karamadai

In Karamadai village, there are 180 streets under the Mettupalayam SRO that carry a 2024 guideline value ranging from Rs 340 to Rs 1,680 per sq.ft. The median value for these streets is Rs 800 per sq.ft, which is equal to the current guideline value of Devi Nagar.

• Cycle Shop Ramasamy Street (Ward 18): Rs 1,120 per sq.ft (2024)
• Coimbatore Mettupalayam Main Road (Ward 2): Rs 1,680 per sq.ft (2024)
• Coimbatore mainroad (Ward 13): Rs 1,680 per sq.ft (2024)
• Coffee Gudan Street (Ward 19): Rs 800 per sq.ft (2024)
• East Car Street (Ward 11): Rs 1,120 per sq.ft (2024)
• E.B. Colony (Ward 3): Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total cost for these fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Devi Nagar?

The Sub Registrar Office that covers Devi Nagar 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karamadai. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the appropriate fees to be paid to the government. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Devi Nagar?

The current guideline value of Devi Nagar is Rs 800 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2012 to Rs 800 per sq.ft in 2024, marking a 100% increase overall. The value was Rs 536 per sq.ft in 2017 and Rs 800 per sq.ft in 2023, with no change from 2023 to 2024.

What is the land classification for Devi Nagar?

Devi Nagar is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Devi Nagar?

The Sub Registrar Office for Devi Nagar is located at 271-Coimbatore Main Road, Near Mettupapalayam Bus Stand, Mettupalayam-641301, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 at a rate of 7%.