Guideline Value for BALAMURUGAN NAGAR 2ND STREET

Balamurugan Nagar 2nd Street guideline value

The current guideline value of Balamurugan Nagar 2nd Street is Rs 711 per sq.ft, effective from 1 July 2024. This street is located in Ward - A village under the Tiruppur Joint II SRO, classified as Commercial Class I Type - II.

How the guideline value of Balamurugan Nagar 2nd Street has changed

The guideline value for Balamurugan Nagar 2nd Street has undergone several revisions over the years. The earliest recorded value is from 2007, which was Rs 195 per sq.ft. This increased significantly to Rs 630 per sq.ft in 2012, marking a rise of 223%. However, the value then decreased to Rs 422 per sq.ft in 2017, representing a decline of 33%. The value saw a substantial increase to Rs 700 per sq.ft in 2023, which was a 66% increase from the previous revision. The most recent revision in 2024 sets the guideline value at Rs 711 per sq.ft, reflecting a 2% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 265%.

Guideline values in Ward - A

In Ward - A, there are 229 streets that carry 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 Nagar 2nd Street is above this median.

• Balamurugan Nagar: Rs 711 per sq.ft (2024)
• Balamurugan Nagar 4th Street: Rs 711 per sq.ft (2024)
• Balamurugan Layout Extension: Rs 711 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Balamurugan Nagar 2nd Street

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

Which Sub Registrar Office covers Balamurugan Nagar 2nd Street?

The Sub Registrar Office that covers Balamurugan Nagar 2nd Street is 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 crucial factor in the registration process of property transactions in Ward - A. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately for taxation purposes.

When buying or selling property, both the buyer and seller must consider the guideline value for calculating stamp duty and registration fees. This ensures compliance with local regulations and avoids any legal issues during the registration process.

Frequently asked questions

What is the current guideline value for Balamurugan Nagar 2nd Street?

The current guideline value for Balamurugan Nagar 2nd Street is Rs 711 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees for a property in Balamurugan Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,11,000. The stamp duty at 7% is Rs 49,770, and the registration fee at 2% is Rs 14,220, totaling Rs 63,990.

Which office handles registrations for Balamurugan Nagar 2nd Street?

The Tiruppur Joint II Sub Registrar Office handles registrations for Balamurugan Nagar 2nd Street, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602.

What is the land classification for Balamurugan Nagar 2nd Street?

Balamurugan Nagar 2nd Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.