Guideline Value for BalaMurugan Nagar

BalaMurugan Nagar guideline value

The current guideline value of BalaMurugan Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in P. Chettipalayam village and falls under the Coimbatore South Joint 1 SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of BalaMurugan Nagar has changed

The guideline value for BalaMurugan Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 500 per sq.ft, which increased to Rs 550 per sq.ft in the 2024 revision, marking a change of +10%.

From the 2024 revision, the current guideline value stands at Rs 550 per sq.ft. The previous revision in 2023 was Rs 500 per sq.ft, indicating a notable increase in the guideline value in the latest revision.

Guideline values in P. Chettipalayam

In P. Chettipalayam, there are 240 streets under the Coimbatore South Joint 1 SRO with a 2024 guideline value range from Rs 220 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 470 per sq.ft, placing BalaMurugan Nagar's 2024 figure above this median.

• Balu Garden Phase I: Rs 780 per sq.ft (2024)
• Balu Garden phase II: Rs 780 per sq.ft (2024)
• Balu Garden Phase III: Rs 780 per sq.ft (2024)
• Bagavathi Amman Kovil Street: Rs 220 per sq.ft (2024)
• Badrakaliamman Lane: Rs 220 per sq.ft (2024)
• Ayyavu Gounder Street: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in BalaMurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BalaMurugan Nagar?

BalaMurugan Nagar is covered by the Coimbatore South Joint 1 Sub Registrar Office, located at No.410a, Raja Street, Coimbatore-641001. You can find your SRO for more information.

How the guideline value is used when you buy or sell in P. Chettipalayam

The guideline value plays a crucial role in the registration of property transactions in P. Chettipalayam. It is the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property in the area.

When a property is registered, the guideline value is used to determine the applicable fees, ensuring that all transactions are compliant with local regulations. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during a property transaction.

Frequently asked questions

What is the current guideline value of BalaMurugan Nagar?

The current guideline value of BalaMurugan Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, which is a change of +10%.

What is the land classification for BalaMurugan Nagar?

BalaMurugan Nagar is classified as Residential Class I Type - II.

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

The Sub Registrar Office covering BalaMurugan Nagar is located at No.410a, Raja Street, Coimbatore-641001, under the Coimbatore South Joint 1 SRO.

How is stamp duty calculated in P. Chettipalayam?

Stamp duty in P. Chettipalayam is calculated based on the higher of the guideline value or the sale price of the property. It is typically charged at 7%, along with a registration fee of 2% on the guideline value.