Guideline Value for Balagi nagar (19/1H)

Balagi nagar (19/1H) guideline value

The current guideline value of Balagi nagar (19/1H) is Rs 495 per sq.ft, effective from 1 July 2024. This property is located in Ottarpalayam village, under the jurisdiction of the Singanallur SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Balagi nagar (19/1H) has changed

The guideline value for Balagi nagar (19/1H) has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 50 per sq.ft. This increased significantly to Rs 450 per sq.ft in 2012, marking an increase of 800%. However, the value then decreased to Rs 301 per sq.ft in 2017, a decline of 33%. Following this, the guideline value rose to Rs 450 per sq.ft in 2023, and finally to Rs 495 per sq.ft in 2024, representing a 10% increase.

There are no recorded figures for Balagi nagar in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Ottarpalayam

In Ottarpalayam, there are 92 streets under the Singanallur SRO that have a 2024 guideline value ranging from Rs 255 to Rs 1,500 per sq.ft, with a median value of Rs 495 per sq.ft. The guideline value for Balagi nagar (19/1H) aligns with this median.

• Avarankodi thoppu (77/3): Rs 385 per sq.ft (2024)
• Bharathipuram extension (129/1B): Rs 495 per sq.ft (2024)
• Bharathi street: Rs 825 per sq.ft (2024)
• Arunathathiyar Street: Rs 255 per sq.ft (2024)
• Arunagirinathar Street (122): Rs 495 per sq.ft (2024)
• Arul Murugan Nagar (382): Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Balagi nagar (19/1H)

For a 1,000 sq.ft plot at the current guideline value of Rs 495 per sq.ft, the total guideline value amounts to Rs 4,95,000. The stamp duty at 7% would be Rs 34,650, and the registration fee at 2% would be Rs 9,900, making the total cost for these fees Rs 44,550. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Balagi nagar (19/1H)?

The Sub Registrar Office that covers Balagi nagar (19/1H) is the Singanallur Sub Registrar Office, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ottarpalayam. It determines the minimum value at which the property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property transaction occurs, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balagi nagar (19/1H)?

The current guideline value of Balagi nagar (19/1H) is Rs 495 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 495 per sq.ft in 2024, reflecting an overall increase of 890% over this period.

What is the stamp duty rate for properties in Balagi nagar?

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

Where is the Singanallur Sub Registrar Office located?

The Singanallur Sub Registrar Office is located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111, Coimbatore registration zone.

What is the land classification for Balagi nagar (19/1H)?

The land classification for Balagi nagar (19/1H) is Mixed Type - I, indicating the type of land use permitted in the area.