Guideline Value for BANKERS COLONY PHASE 2

Bankers Colony Phase 2 guideline value

The current guideline value of Bankers Colony Phase 2 is Rs 1,010 per sq.ft. This area is located in Villankuruchi village under the Ganapathy SRO, classified as Residential Class I Type - I.

How the guideline value of Bankers Colony Phase 2 has changed

The guideline value for Bankers Colony Phase 2 has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 750 per sq.ft. This was followed by a decrease to Rs 502 per sq.ft in 2017. The value then increased significantly to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 has raised it further to Rs 1,010 per sq.ft, marking a 1% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 99%. The overall change from 2012 to 2024 shows an increase of 35%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Villankuruchi

In Villankuruchi, there are 275 streets under the Ganapathy SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 3,220 per sq.ft. The median value for these streets is Rs 1,008 per sq.ft, placing Bankers Colony Phase 2's 2024 figure above that median.

• BANKERS COLONY PHASE ii: Rs 1,010 per sq.ft (2024)
• BANKERS Nagar: Rs 1,010 per sq.ft (2024)
• Bankers Nagar-1,Sri Kaliamman Nagar: Rs 1,010 per sq.ft (2024)
• Bethal Nagar: Rs 1,007 per sq.ft (2024)
• Balaji Nagar: Rs 1,006 per sq.ft (2024)
• Bharathi Nagar: Rs 1,010 per sq.ft (2024)

Stamp duty and registration fee for property in Bankers Colony Phase 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,010 per sq.ft, the total guideline value would be Rs 10,10,000. The stamp duty at 7% would amount to Rs 70,700, and the registration fee at 2% would be Rs 20,200, bringing the total fees to Rs 90,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bankers Colony Phase 2?

The Sub Registrar Office that covers Bankers Colony Phase 2 is the Ganapathy Sub Registrar Office, located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006. You can find your SRO for additional information.

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

The guideline value is an essential factor when registering property transactions in Villankuruchi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buyers and sellers agree on a sale price, the registration office will use the higher of the guideline value or the sale price to calculate the applicable stamp duty and registration fees. This process helps maintain a standard valuation across the region.

Frequently asked questions

What is the current guideline value of Bankers Colony Phase 2?

The current guideline value of Bankers Colony Phase 2 is Rs 1,010 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,010 per sq.ft in 2024.

What is the median guideline value in Villankuruchi?

The median guideline value in Villankuruchi is Rs 1,008 per sq.ft, with Bankers Colony Phase 2's value being above this median.

What are the stamp duty rates for properties in Bankers Colony Phase 2?

The stamp duty rate for properties in Bankers Colony Phase 2 is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Ganapathy Sub Registrar Office located?

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