Guideline Value for BALAKRISHNAN NAIDU STREET

Balakrishnan Naidu Street guideline value

The current guideline value of Balakrishnan Naidu Street is Rs 1,450 per sq.ft, effective from 1 July 2024. This street is located in Ward - G village under the Udumalpettai SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Balakrishnan Naidu Street has changed

The guideline value for Balakrishnan Naidu Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,300 per sq.ft, which then decreased to Rs 871 per sq.ft in the 2017 revision. Following this, the 2023 revision brought the value back up to Rs 1,300 per sq.ft, and the most recent 2024 revision has increased it further to Rs 1,450 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Between the revisions, there have been significant changes. The guideline value increased by 12% from 2023 to 2024, and from 2017 to 2023, there was a notable increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Ward - G

In Ward - G, there are 36 streets under the Udumalpettai SRO that carry a 2024 guideline value, ranging from Rs 380 to Rs 1,800 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Balakrishnan Naidu Street above this median.

• Arumuga Gounder Layout: Rs 475 per sq.ft (2024)
• Anna Kudiyerupu: Rs 660 per sq.ft (2024)
• Alaguvel Layout: Rs 475 per sq.ft (2024)
• Duraisamy Lay Out: Rs 775 per sq.ft (2024)
• G.V.G.Nagar: Rs 475 per sq.ft (2024)
• Iyyappan Colony: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,450 per sq.ft, the total guideline value would be Rs 14,50,000. The stamp duty at 7% would amount to Rs 1,01,500, and the registration fee at 2% would be Rs 29,000, bringing the total fees together to Rs 1,30,500. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balakrishnan Naidu Street?

The Sub Registrar Office that covers Balakrishnan Naidu Street is the Udumalpettai Sub Registrar Office, located at 21, Katcheri Street, Taluk Office Campus, Udumalpet - 642126, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Ward - G. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. When a property is sold, the guideline value ensures that both the buyer and seller have a clear understanding of the financial implications of the transaction.

During the registration process, the guideline value is referenced to calculate the applicable fees. If the sale price of the property exceeds the guideline value, the stamp duty will be based on the sale price instead. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Balakrishnan Naidu Street?

The current guideline value of Balakrishnan Naidu Street is Rs 1,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then back to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,450 per sq.ft in 2024.

What is the land classification for Balakrishnan Naidu Street?

Balakrishnan Naidu Street is classified as Residential Special Type - I.

Where can I find the registration office for Balakrishnan Naidu Street?

The registration office for Balakrishnan Naidu Street is the Udumalpettai Sub Registrar Office, located at 21, Katcheri Street, Taluk Office Campus, Udumalpet - 642126, Coimbatore registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 14,50,000, the stamp duty would be Rs 1,01,500 at a rate of 7%.