Guideline Value for BALAMURUGAN COLONY

Balamurugan Colony guideline value

The current guideline value of Balamurugan Colony, located in Ward - B village under the Tiruppur Joint I SRO, is Rs 840 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Balamurugan Colony has changed

The guideline value for Balamurugan Colony has seen several revisions over the years. In 2007, the value was Rs 440 per sq.ft, which increased to Rs 750 per sq.ft in 2012. However, between 2012 and 2017, there was a significant decrease to Rs 502 per sq.ft. The value rose again to Rs 750 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 840 per sq.ft. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 91%. The most notable change occurred from 2017 to 2023, where the value rose by 49%, and from 2023 to 2024, it increased by 12%.

Guideline values in Ward - B

In Ward - B, there are 224 streets under the Tiruppur Joint I SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 4,480 per sq.ft. The median value for these streets is Rs 1,120 per sq.ft, placing Balamurugan Colony's 2024 figure below that median.

• Bangalaw Street Extension: Rs 2,015 per sq.ft (2024)
• Bangalaw Street Main Road: Rs 2,575 per sq.ft (2024)
• Bangalaw Street Thenvadal Road: Rs 2,575 per sq.ft (2024)
• Bangalow Street 80 Feet: Rs 2,575 per sq.ft (2024)
• Bangalow Street North South Street: Rs 2,575 per sq.ft (2024)
• Bathrakaliamman Koil 1st Street: Rs 2,015 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 840 per sq.ft, the total guideline value amounts to Rs 8,40,000. The stamp duty at 7% would be Rs 58,800, and the registration fee at 2% would be Rs 16,800, bringing the total cost for these fees to Rs 75,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamurugan Colony?

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

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

The guideline value is a crucial factor when registering property in Ward - B, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Balamurugan Colony?

The current guideline value of Balamurugan Colony is Rs 840 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 440 per sq.ft in 2007 to Rs 840 per sq.ft in 2024, reflecting an overall increase of 91% over this period.

What are the stamp duty rates for properties in Balamurugan Colony?

The stamp duty for properties in Balamurugan Colony is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Balamurugan Colony?

The Tiruppur Joint I Sub Registrar Office handles property registrations in Balamurugan Colony.

What is the land classification of Balamurugan Colony?

Balamurugan Colony is classified as Residential Class IV Type - I.