Guideline Value for BANGALAW STREET EXTENSION

Bangalaw Street Extension guideline value

The current guideline value for Bangalaw Street Extension is Rs 2,015 per sq.ft, effective from 1 July 2024. This street is located in Ward - B village under the Tiruppur Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Bangalaw Street Extension has changed

Over the years, the guideline value for Bangalaw Street Extension has seen several revisions. The earliest recorded value was Rs 1,510 per sq.ft in 2007. This figure changed to Rs 1,800 per sq.ft in 2012, and then it decreased to Rs 1,206 per sq.ft in 2017. The value increased significantly to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,015 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 12% increase. Overall, from 2007 to 2024, the guideline value has increased by 33%.

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, making the 2024 guideline value for Bangalaw Street Extension above this median.

• 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)
• Bathrakaliamman Koil 2nd Street: Rs 2,015 per sq.ft (2024)

Stamp duty and registration fee for property in Bangalaw Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,015 per sq.ft, the total guideline value would be Rs 20,15,000. The stamp duty at 7% would amount to Rs 1,41,050, and the registration fee at 2% would be Rs 40,300, bringing the total to Rs 1,81,350. It is important to note that the 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 details.

Which Sub Registrar Office covers Bangalaw Street Extension?

The Bangalaw Street Extension falls under 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 plays a crucial role in the registration process when buying or selling property in Ward - B. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Bangalaw Street Extension?

The current guideline value for Bangalaw Street Extension is Rs 2,015 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,510 per sq.ft in 2007 to Rs 2,015 per sq.ft in 2024, reflecting various revisions over the years.

What is the stamp duty rate for properties in Bangalaw Street Extension?

The stamp duty rate for properties in Bangalaw Street Extension is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Tiruppur Joint I SRO located?

The Tiruppur Joint I SRO is located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, Coimbatore registration zone.

What is the land classification for Bangalaw Street Extension?

Bangalaw Street Extension is classified as Residential Class II Type - I, indicating its designation for residential use.