Guideline Value for Backyam avenue

Backyam avenue guideline value

The current guideline value of Backyam avenue is Rs 380 per sq.ft, effective from 1 July 2024. This street is located in Narasimmanaickenpalayam village under the Periyanayakkan Palayam SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Backyam avenue has changed

The guideline value for Backyam avenue has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 340 per sq.ft. This was followed by a decrease in 2017 to Rs 228 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 341 per sq.ft, and the most recent revision in 2024 shows a further increase to Rs 380 per sq.ft, reflecting an 11% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 12%. Between 2017 and 2023, there was a significant increase of 50%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Backyam avenue.

Guideline values in Narasimmanaickenpalayam

Narasimmanaickenpalayam has a total of 153 streets under the Periyanayakkan Palayam SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,340 per sq.ft. The median guideline value in this village is Rs 310 per sq.ft, placing Backyam avenue's 2024 figure above that median.

• Balaji Nagar: Rs 560 per sq.ft (2024)
• Balavinayaga Nagar: Rs 220 per sq.ft (2024)
• Barathi Nagar: Rs 310 per sq.ft (2024)
• Bathma Nagar: Rs 450 per sq.ft (2024)
• Bharathi Avenue Phase I: Rs 220 per sq.ft (2024)
• Arijana Colony (Ward 7): Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Backyam avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 380 per sq.ft, the total guideline value would be Rs 3,80,000. The stamp duty, charged at 7%, would amount to Rs 26,600, and the registration fee at 2% would be Rs 7,600, bringing the total charges to Rs 34,200. 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 Backyam avenue?

The Sub Registrar Office that covers Backyam avenue is the Periyanayakkan Palayam Sub Registrar Office, located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Narasimmanaickenpalayam. It serves as a benchmark for determining the minimum value of a property, which is used to calculate stamp duty and registration fees during the sale or purchase of real estate.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per the local regulations. It helps maintain transparency in property dealings and prevents undervaluation of properties, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Backyam avenue?

The current guideline value of Backyam avenue is Rs 380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 340 per sq.ft in 2012 to Rs 228 per sq.ft in 2017, then increased to Rs 341 per sq.ft in 2023, and finally to Rs 380 per sq.ft in 2024.

What is the median guideline value in Narasimmanaickenpalayam?

The median guideline value in Narasimmanaickenpalayam is Rs 310 per sq.ft, with Backyam avenue's current value being above this median.

What is the stamp duty rate for properties in Backyam avenue?

The stamp duty rate for properties in Backyam avenue is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Backyam avenue?

The Sub Registrar Office for Backyam avenue is the Periyanayakkan Palayam Sub Registrar Office, located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020.