Guideline Value for BALAJI NAGAR 2ND STREET

Balaji Nagar 2nd Street guideline value

The current guideline value of Balaji Nagar 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward - M village, under the Tiruppur Joint II SRO, and is classified as Residential Class III Type - II.

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 695 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The value saw a significant rise to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 58%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Ward - M

In Ward - M, there are 225 streets under the Tiruppur Joint II SRO that carry a 2024 guideline value, ranging from Rs 701 to Rs 6,600 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Balaji Nagar 2nd Street.

• Balaji Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Cadhi Colony Street 1: Rs 1,100 per sq.ft (2024)
• Cadhi Colony Street 2: Rs 1,100 per sq.ft (2024)
• Amarjothi Garden: Rs 1,210 per sq.ft (2024)
• Alangadu Municipal Colony: 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, together totaling Rs 99,000. It is important to note that the 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 further calculations.

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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Ward - M. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction reflects a fair value for taxation purposes. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 695 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 58% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office handles registrations for Balaji Nagar 2nd Street?

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

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

Balaji Nagar 2nd Street is classified as Residential Class III Type - II according to the local guidelines.