Guideline Value for BALAJI NAGAR 2ND STREET

Balaji Nagar 2nd Street guideline value

The current guideline value of Balaji Nagar 2nd Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Ward - G village, under the Tiruppur Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar 2nd Street has changed

The guideline value for Balaji Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 385 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The next revision in 2023 saw a substantial increase to Rs 800 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 880 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was 10%, marking a consistent upward trend in the recent revisions. Overall, from 2007 to 2024, the guideline value has increased by 129%.

Guideline values in Ward - G

In Ward - G, there are 134 streets under the Tiruppur Joint II SRO that carry a guideline value for 2024, ranging from Rs 701 to Rs 4,650 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the guideline value of Balaji Nagar 2nd Street.

• Balaji Nagar 1 Nd Street: Rs 880 per sq.ft (2024)
• Balaji Nagar Extension: Rs 825 per sq.ft (2024)
• Balajinagar: Rs 880 per sq.ft (2024)
• Balaji Layout: Rs 880 per sq.ft (2024)
• Anna Nagar: Rs 706 per sq.ft (2024)
• Amarjothi Sathyamoorthi Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, these fees total Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 2nd Street?

The Sub Registrar Office that covers Balaji Nagar 2nd Street is the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial reference point during the registration of property transactions in Ward - G. It is used to determine the applicable stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and helps in the assessment of taxes due. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar 2nd Street?

The current guideline value of Balaji Nagar 2nd Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 385 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 129% over the years.

What are the stamp duty and registration fees for properties in Balaji Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Balaji Nagar 2nd Street?

The Tiruppur Joint II Sub Registrar Office covers Balaji Nagar 2nd Street, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone.

What is the land classification of Balaji Nagar 2nd Street?

Balaji Nagar 2nd Street is classified as Residential Class I Type - I, which indicates its designation for residential use within the area.