Guideline Value for BANJARA HILLS

Banjara Hills guideline value

The current guideline value of Banjara Hills, located in Sundakkamuthur village under the Madukkarai SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Banjara Hills has changed

The guideline value for Banjara Hills has seen several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. However, this figure increased significantly to Rs 700 per sq.ft in 2023, and further rose to Rs 1,000 per sq.ft in the 2024 revision, marking a 43% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 43%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Sundakkamuthur

Sundakkamuthur has a total of 214 streets under the Madukkarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which is equal to the guideline value of Banjara Hills.

• Jrd Villa Palacio: Rs 1,000 per sq.ft (2024)
• Spring field Valley (168/2A,2B,2C, 176/1C,1D,2): Rs 1,000 per sq.ft (2024)
• Sri Sakthi Avenue: Rs 1,000 per sq.ft (2024)
• Ward 10 - Aandi gounder Street - Kulathupalayam: Rs 1,000 per sq.ft (2024)
• Ward 10 - Ammasai gounder Street - Kulathupalayam: Rs 1,000 per sq.ft (2024)
• Ward 10 - Arjana gounder Street - Kulathupalayam: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Banjara Hills

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Banjara Hills?

The Banjara Hills area is covered by the Madukkarai Sub Registrar Office, located at 365, Gandhi Nagar, Near Quarry Office, Palakkad Main Road, Madukkarai, Coimbatore, 641105. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sundakkamuthur. It acts as a benchmark for determining the value of the property and is used to calculate the stamp duty and registration fees applicable at the time of registration.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during the registration process. The registration office will use the guideline value to assess the fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Banjara Hills?

The current guideline value of Banjara Hills is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 1,000 per sq.ft in 2024.

What is the land classification for Banjara Hills?

Banjara Hills is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Banjara Hills?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 90,000.

Where is the Madukkarai Sub Registrar Office located?

The Madukkarai Sub Registrar Office is located at 365, Gandhi Nagar, Near Quarry Office, Palakkad Main Road, Madukkarai, Coimbatore, 641105.