Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Lakkampatti village under the Gobichettipalayam Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 93 per sq.ft. It increased to Rs 106 per sq.ft in 2007, then significantly rose to Rs 300 per sq.ft in 2012. However, it dropped to Rs 201 per sq.ft in 2017 before returning to Rs 300 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 14%. The jump from 2007 to 2012 was substantial at 183%, but the value then decreased by 33% from 2012 to 2017. The value saw a significant rise of 49% from 2017 to 2023, and no change from 2023 to 2024, maintaining the rate at Rs 300 per sq.ft.

Guideline values in Lakkampatti

Lakkampatti village has 128 streets under the Gobichettipalayam Joint I SRO, with guideline values ranging from Rs 200 to Rs 450 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Balaji Nagar's 2024 figure above that median.

• Baharathi Nagar Extension: Rs 300 per sq.ft (2024)
• Bangalow pudur Road: Rs 300 per sq.ft (2024)
• Bharathi Nagar: Rs 300 per sq.ft (2024)
• Aviayar Street (84): Rs 250 per sq.ft (2024)
• Bharathi street: Rs 250 per sq.ft (2024)
• Bharath Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, resulting in Rs 21,000, while the registration fee at 2% amounts to Rs 6,000. Together, the total cost for stamp duty and registration fee is Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Gobichettipalayam Joint I Sub Registrar Office, located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Lakkampatti. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to prevent undervaluation. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 93 per sq.ft in 2003 to Rs 300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Balaji Nagar?

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

What are the registration fees for property in Balaji Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Balaji Nagar located?

The Gobichettipalayam Joint I Sub Registrar Office is located at Integrated Registration Office, No.81, Old Hospital Street, Near Market, Gobichettipalayam-638452, Coimbatore registration zone.