Guideline Value for BALAMURUGAN NAGAR

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 1,120 per sq.ft, effective from 1 July 2024. This area is located in Ganapathy village, under the Ganapathy SRO, and is classified as Residential Class I Type - II.

How the guideline value of Balamurugan Nagar has changed

The guideline value for Balamurugan Nagar has undergone several revisions since 2007. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. Following this, the value rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,120 per sq.ft from the 2024 revision. The changes between these revisions include a 300% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 12% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 348%.

Guideline values in Ganapathy

In Ganapathy village, there are 324 streets under the Ganapathy SRO that carry a 2024 guideline value ranging from Rs 1,007 to Rs 4,595 per sq.ft. The median value is Rs 1,120 per sq.ft, which is equal to the current guideline value of Balamurugan Nagar.

• Balan Nagar,Ganapathi Pudur Veethi No-8: Rs 1,010 per sq.ft (2024)
• Balaji Nagar (Srinivasapuram): Rs 1,400 per sq.ft (2024)
• Balasundram Road: Rs 1,400 per sq.ft (2024)
• Balasundram Road.Jayasamani Road: Rs 1,400 per sq.ft (2024)
• Balugardens Phase 1.2: Rs 1,010 per sq.ft (2024)
• Balaji Layout: Rs 1,010 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,120 per sq.ft, the total guideline value would be Rs 11,20,000. The stamp duty at 7% would be Rs 78,400, and the registration fee at 2% would be Rs 22,400, bringing the total cost for these fees to Rs 1,00,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balamurugan Nagar?

Balamurugan Nagar falls under the Ganapathy Sub Registrar Office, located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore - 641006. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ganapathy

The guideline value is a crucial factor when registering property transactions in Ganapathy. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. This ensures that all transactions are conducted fairly and transparently, based on the established values set by the Registration Department.

When you buy or sell property in Ganapathy, the guideline value will be referenced to assess the applicable fees. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 1,120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,120 per sq.ft in 2024, marking an overall increase of 348% over the years.

What is the land classification for Balamurugan Nagar?

Balamurugan Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Ganapathy Sub Registrar Office?

The Ganapathy Sub Registrar Office is located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore - 641006.

How is the stamp duty calculated for properties in Balamurugan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,120 per sq.ft would incur a stamp duty of Rs 78,400.