Guideline Value for BANKERS Nagar

BANKERS Nagar guideline value

The current guideline value of BANKERS Nagar, located in Villankuruchi village under the Ganapathy SRO, is Rs 1,010 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of BANKERS Nagar has changed

The guideline value for BANKERS Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which then decreased to Rs 502 per sq.ft in the 2017 revision. Following this, the value saw a significant increase, reaching Rs 1,000 per sq.ft in the 2023 revision and further rising to Rs 1,010 per sq.ft in the 2024 revision.

In terms of percentage changes, there was a decrease of 33% from 2012 to 2017. However, from 2017 to 2023, the value surged by 99%. Overall, from 2012 to 2024, the guideline value increased by 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, with 2024 guideline values ranging from Rs 1,001 to Rs 3,220 per sq.ft. The median guideline value for the village is Rs 1,008 per sq.ft, positioning BANKERS Nagar's 2024 figure above this median.

• BANKERS COLONY PHASE ii: Rs 1,010 per sq.ft (2024)
• Bankers Nagar-1,Sri Kaliamman Nagar: Rs 1,010 per sq.ft (2024)
• Bankers Colony Phase 2: 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 Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,010 per sq.ft, the guideline value amounts to Rs 10,10,000. The stamp duty charged at 7% would be Rs 70,700, and the registration fee at 2% would be Rs 20,200, totaling Rs 90,900. Please note that 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 BANKERS Nagar?

The Sub Registrar Office that covers BANKERS Nagar is the Ganapathy Sub Registrar Office, located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Villankuruchi. It serves as the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. Thus, understanding the guideline value is essential for anyone looking to engage in real estate transactions in this area.

Frequently asked questions

What is the current guideline value of BANKERS Nagar?

The current guideline value of BANKERS Nagar 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 to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,010 per sq.ft in 2024.

What is the land classification for BANKERS Nagar?

BANKERS Nagar falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for BANKERS Nagar?

The Ganapathy Sub Registrar Office covers BANKERS Nagar and is located at Sankaralinganar Road, Maniyakaranpalayam, Ganapathy, Coimbatore, 641006.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 10,10,000 would incur a stamp duty of Rs 70,700 at 7% and a registration fee of Rs 20,200 at 2%.