Guideline Value for BALAMURUGAN COLONY

Balamurugan Colony guideline value

The current guideline value of Balamurugan Colony is Rs 711 per sq.ft, effective from 1 July 2024. This area falls under Ward - A village and is classified as Commercial Class I Type - II under the Tiruppur Joint II SRO.

How the guideline value of Balamurugan Colony has changed

The guideline value of Balamurugan Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 195 per sq.ft, which increased significantly to Rs 630 per sq.ft in 2012, marking a 223% rise. However, from 2012 to 2017, the value decreased to Rs 422 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 700 per sq.ft in 2023, which was a 66% rise from the previous revision.

As of the 2024 revision, the guideline value stands at Rs 711 per sq.ft, representing a 2% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has risen by 265% in Balamurugan Colony.

Guideline values in Ward - A

In Ward - A, there are 229 streets under the Tiruppur Joint II SRO that have a 2024 guideline value ranging from Rs 701 to Rs 880 per sq.ft, with a median value of Rs 709 per sq.ft. The guideline value of Balamurugan Colony is above this median.

• Balamurugan Layout: Rs 711 per sq.ft (2024)
• Balamurugan Layout 1st Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout 2nd Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout 3rd Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout 4th Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout 5th Street: Rs 711 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 711 per sq.ft, the total guideline value would be Rs 7,11,000. The stamp duty at 7% would amount to Rs 49,770, while the registration fee at 2% would be Rs 14,220. Together, the total cost for stamp duty and registration would be Rs 63,990. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balamurugan Colony?

The Sub Registrar Office that covers Balamurugan Colony is the Tiruppur Joint II Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Ward - A. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Balamurugan Colony?

The current guideline value of Balamurugan Colony is Rs 711 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 195 per sq.ft in 2007 to Rs 711 per sq.ft in 2024, reflecting an overall increase of 265% over the years.

What is the registration office for Balamurugan Colony?

The registration office for Balamurugan Colony 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 Balamurugan Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 7,11,000, the stamp duty would be Rs 49,770.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration. It ensures that the government collects appropriate revenue through stamp duty and registration fees during property transactions.