Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Neruperichal village, is Rs 705 per sq.ft, effective from 1 July 2024. This area falls under the Tiruppur Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. In 2012, the value was Rs 300 per sq.ft, which increased to Rs 201 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value surged to Rs 705 per sq.ft, reflecting a significant increase of 251%. The most recent revision in 2024 maintained the value at Rs 705 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 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 135%.

Guideline values in Neruperichal

Neruperichal village has a total of 171 streets under the Tiruppur Joint I SRO, with the 2024 guideline values ranging from Rs 700 to Rs 1,008 per sq.ft. The median value for these streets is Rs 705 per sq.ft, which aligns with the guideline value for Balaji Nagar.

• Balaji Gardern Extension: Rs 705 per sq.ft (2024)
• Balaji Garden: Rs 705 per sq.ft (2024)
• Bhagavathiamman Nagar: Rs 705 per sq.ft (2024)
• Avs Palanisamy Gounder Subbulakshmi Ammal Nagar Extn: Rs 896 per sq.ft (2024)
• Avs Palanisamy Gounder Subbulakshmi Ammal Nagar: Rs 875 per sq.ft (2024)
• A.V.S Naveen Richland: Rs 705 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 705 per sq.ft, the total guideline value would be Rs 7,05,000. The stamp duty at 7% would amount to Rs 49,350, and the registration fee at 2% would be Rs 14,100, bringing the total cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar?

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

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

The guideline value plays a crucial role in the registration of property transactions in Neruperichal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is considered to protect both the buyer and seller. It helps in establishing a fair price for the property, which is essential for the legal transfer of ownership and for tax purposes.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 705 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the increase is 135%.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in Balaji Nagar?

For a property valued at Rs 7,05,000, the stamp duty would be Rs 49,350 and the registration fee would be Rs 14,100, totaling Rs 63,450.

Which office handles property registrations for Balaji Nagar?

The Tiruppur Joint I Sub Registrar Office handles property registrations for Balaji Nagar, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602.