Guideline Value for BALAJI NAGAR SIRUPULUVAPATTI

Balaji Nagar Sirupuluvapatti guideline value

The current guideline value for Balaji Nagar Sirupuluvapatti is Rs 705 per sq.ft, effective from 1 July 2024. This area is located in Velampalayam village and falls under the Tiruppur Joint II SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Balaji Nagar Sirupuluvapatti has changed

Over the years, the guideline value for Balaji Nagar Sirupuluvapatti has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it increased to Rs 201 per sq.ft. Following this, the 2023 revision brought a significant rise to Rs 300 per sq.ft, and the most recent 2024 revision has seen it rise to Rs 705 per sq.ft, marking an increase of 135% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 135% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velampalayam

In Velampalayam, there are 472 streets under the Tiruppur Joint II SRO that carry a 2024 guideline value ranging from Rs 701 to Rs 4,480 per sq.ft. The median guideline value in this area is Rs 711 per sq.ft, which means that Balaji Nagar's 2024 figure is slightly below this median.

• Balaji Nagar: Rs 706 per sq.ft (2024)
• Balathandayudam Veethi: Rs 707 per sq.ft (2024)
• Best Road: Rs 715 per sq.ft (2024)
• Bharathiar Street: Rs 890 per sq.ft (2024)
• Bharathi Iiird Street: Rs 711 per sq.ft (2024)
• Bharathi Iind Street: Rs 711 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Sirupuluvapatti

For a 1,000 sq.ft plot at the current rate of Rs 705 per sq.ft, the guideline value amounts to Rs 7,05,000. The stamp duty at 7% would be Rs 49,350, and the registration fee at 2% would be Rs 14,100, bringing the total to Rs 63,450. 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 Sirupuluvapatti?

The Sub Registrar Office that covers Balaji Nagar Sirupuluvapatti 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 Velampalayam

The guideline value plays a crucial role in property transactions in Velampalayam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that need to be paid.

During the registration process, the guideline value ensures that properties are not undervalued, thereby safeguarding the interests of the state and the buyers. It is essential for buyers to be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Balaji Nagar Sirupuluvapatti?

The current guideline value for Balaji Nagar Sirupuluvapatti is Rs 705 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2012 to Rs 705 per sq.ft in 2024, marking an overall increase of 135% over this period.

What is the land classification for Balaji Nagar Sirupuluvapatti?

Balaji Nagar Sirupuluvapatti is classified as Residential Class IV Type - II.

What is the registration office for Balaji Nagar Sirupuluvapatti?

The registration office covering Balaji Nagar Sirupuluvapatti is the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone.

How is the stamp duty calculated for properties in Balaji Nagar Sirupuluvapatti?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 7,05,000, the stamp duty at 7% would be Rs 49,350.