Guideline Value for BALAMURUGAN LAYOUT EXTENSION

Balamurugan Layout Extension guideline value

The current guideline value for Balamurugan Layout Extension 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, managed by the Tiruppur Joint II SRO.

How the guideline value of Balamurugan Layout Extension has changed

Over the years, the guideline value for Balamurugan Layout Extension has seen significant changes. The earliest recorded figure in the register is from 2007, where the value was Rs 195 per sq.ft. This increased to Rs 630 per sq.ft in 2012, marking a rise of 223%. However, from 2012 to 2017, the value decreased by 33% to Rs 422 per sq.ft. The value then saw a substantial increase of 66% to Rs 700 per sq.ft in 2023, before rising again by 2% to the current figure of Rs 711 per sq.ft in 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 figure to the 2024 figure, there has been an increase of 265% in the guideline value.

Guideline values in Ward - A

In Ward - A, there are 229 streets under the Tiruppur Joint II SRO with a 2024 guideline value ranging from Rs 701 to Rs 880 per sq.ft. The median value for these streets is Rs 709 per sq.ft, placing Balamurugan Layout Extension's current value above this median.

• Balamurugan Layout 5th Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout 4th Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout 3rd Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout 2nd Street: Rs 711 per sq.ft (2024)
• Balamurugan Nagar: Rs 711 per sq.ft (2024)
• Balamurugan Layout 1st Street: Rs 711 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Layout Extension

For a 1,000 sq.ft plot at the current rate of Rs 711 per sq.ft, the guideline value amounts to Rs 7,11,000. The stamp duty at 7% would be Rs 49,770, and the registration fee at 2% would be Rs 14,220, bringing the total to Rs 63,990. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamurugan Layout Extension?

The Balamurugan Layout Extension falls under the Tiruppur Joint II 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 - A

The guideline value is a critical factor during the registration process of property transactions in Ward - A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of their financial obligations. It is important for all parties involved in a transaction to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Balamurugan Layout Extension?

The current guideline value for Balamurugan Layout Extension 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 significantly, increasing from Rs 195 per sq.ft in 2007 to Rs 711 per sq.ft in 2024. There have been fluctuations, including a decrease from 2012 to 2017.

What is the land classification of Balamurugan Layout Extension?

Balamurugan Layout Extension is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

Where can I find the Sub Registrar Office for Balamurugan Layout Extension?

The Sub Registrar Office covering Balamurugan Layout Extension is the Tiruppur Joint II SRO, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 711 per sq.ft, the total guideline value would be Rs 7,11,000.