Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Somayampalayam village under the Vadavalli SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

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 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, there was a significant increase of 49% to Rs 500 per sq.ft in 2023. The most recent revision in 2024 raised the value by 10% to Rs 550 per sq.ft.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Somayampalayam

In Somayampalayam, there are 139 streets under the Vadavalli SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 720 per sq.ft, placing Balaji Nagar's 2024 figure below that median.

• Balaji Nagar (S.No. 188/1a): Rs 550 per sq.ft (2024)
• Arasan Avenue: Rs 550 per sq.ft (2024)
• Ananyas Nananani Phase-IV: Rs 1,650 per sq.ft (2024)
• Ananya's Garden@ Vadavalli: Rs 1,650 per sq.ft (2024)
• Ananya's Garden @ Kalappanaickenpalayam: Rs 1,650 per sq.ft (2024)
• Altrons Gardens: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. 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 more details.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Somayampalayam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value or the sale price is considered, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Balaji Nagar is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046.

How is stamp duty calculated for properties in Balaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 550 per sq.ft, the stamp duty would be Rs 38,500.