Guideline Value for BANNARIAMMAN NAGAR

Bannariamman Nagar guideline value

The current guideline value of Bannariamman Nagar, located in Vellanaipatty village under the Ganapathy SRO, is Rs 335 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Bannariamman Nagar has changed

The guideline value for Bannariamman Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft. This figure decreased significantly to Rs 201 per sq.ft in the 2017 revision. However, the value saw a substantial increase in the 2023 revision, rising to Rs 300 per sq.ft, and then further increased to Rs 335 per sq.ft in the 2024 revision, marking a 12% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 12%. The changes between revisions are as follows: from 2017 to 2023, the value increased by 49%, while the decrease from 2012 to 2017 was 33%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vellanaipatty

In Vellanaipatty, there are 110 streets under the Ganapathy SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 335 per sq.ft, which is equal to the current guideline value of Bannariamman Nagar.

• Bankers Colony: Rs 335 per sq.ft (2024)
• Balu Gardens: Rs 335 per sq.ft (2024)
• Bharathi Avenue: Rs 335 per sq.ft (2024)
• Bharathi Avenue Extn: Rs 335 per sq.ft (2024)
• Bharathi Avenue II: Rs 335 per sq.ft (2024)
• Babu Gardens: Rs 335 per sq.ft (2024)

Stamp duty and registration fee for property in Bannariamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 335 per sq.ft, the total guideline value amounts to Rs 3,35,000. The stamp duty, calculated at 7%, would be Rs 23,450, while the registration fee at 2% would be Rs 6,700. Together, the total cost for stamp duty and registration fee would be Rs 30,150. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bannariamman Nagar?

Bannariamman Nagar falls under the jurisdiction of 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 Vellanaipatty

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vellanaipatty, the guideline value ensures that all transactions are conducted fairly and transparently, reflecting the value of the property as per government regulations.

During the registration process, buyers and sellers must consider the guideline value to calculate the applicable stamp duty and registration fees. This process helps in maintaining a standardized approach to property valuation and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bannariamman Nagar?

The current guideline value of Bannariamman Nagar is Rs 335 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023, and finally to Rs 335 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Bannariamman Nagar?

The stamp duty for a property valued at Rs 3,35,000 is Rs 23,450, and the registration fee is Rs 6,700, totaling Rs 30,150.

Which Sub Registrar Office covers Bannariamman Nagar?

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

What is the land classification of Bannariamman Nagar?

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