Guideline Value for Balaji Nagar (Ward 13)

Balaji Nagar (Ward 13) guideline value

The current guideline value of Balaji Nagar (Ward 13) is Rs 1,040 per sq.ft, effective from 1 July 2024. This area is located in Kurichi village and falls under the Coimbatore North Joint 1 SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Balaji Nagar (Ward 13) has changed

The guideline value of Balaji Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which decreased to Rs 502 per sq.ft in 2017. However, from 2017 to 2023, the value saw a significant increase of 99%, reaching Rs 1,000 per sq.ft. The latest revision in 2024 has further increased the value by 4%, bringing it to Rs 1,040 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 39%.

Guideline values in Kurichi

In Kurichi, there are 536 streets under the Coimbatore North Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,040 per sq.ft, which is equal to the current value of Balaji Nagar.

• Bajanai Kovil Street (Ward 6): Rs 1,040 per sq.ft (2024)
• Ayyavu Gounder Street (Ward 10): Rs 1,030 per sq.ft (2024)
• Ayyasamy Naicker Street (Ward 4): Rs 1,040 per sq.ft (2024)
• Ayyappa Nagar: Rs 1,040 per sq.ft (2024)
• Ayya Gounder Street: Rs 1,035 per sq.ft (2024)
• Bharathi Nagar (Ward 2): Rs 1,075 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar (Ward 13)

For a 1,000 sq.ft plot at the current rate of Rs 1,040 per sq.ft, the guideline value amounts to Rs 10,40,000. The stamp duty at 7% would be Rs 72,800, and the registration fee at 2% would be Rs 20,800, totaling Rs 93,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar (Ward 13)?

The Sub Registrar Office that covers Balaji Nagar (Ward 13) is the Coimbatore North Joint 1 Sub Registrar Office, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001. You can find your SRO online.

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

The guideline value plays a crucial role in property transactions in Kurichi. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area. This ensures that the transaction is in line with government regulations and helps in maintaining transparency.

When you register a property, the guideline value is considered to ascertain the minimum value on which duties are calculated. This means that regardless of the sale price, the guideline value will be the baseline for calculating the applicable fees.

Frequently asked questions

What is the current guideline value of Balaji Nagar (Ward 13)?

The current guideline value of Balaji Nagar (Ward 13) is Rs 1,040 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 increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,040 per sq.ft in 2024.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - I, which indicates its designation for residential use.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 93,600, based on the current guideline value of Rs 10,40,000.

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

The Sub Registrar Office for Balaji Nagar (Ward 13) is the Coimbatore North Joint 1 Sub Registrar Office, located at District Registrar Office, Syryan Church Road, Corporation Marriage Centre, Coimbatore -641001.