Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Ramanathapuram village, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification in the Peelamedu SRO.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 136 per sq.ft. This value increased to Rs 150 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 314 per sq.ft, reflecting a 109% increase. The 2012 revision saw a notable jump to Rs 2,000 per sq.ft, an increase of 537%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the guideline value rose significantly to Rs 2,000 per sq.ft, showing a 49% increase, and finally reached Rs 2,200 per sq.ft in the 2024 revision, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,518%. There are no revisions with figures for Balaji Nagar in the years not specified.

Guideline values in Ramanathapuram

In Ramanathapuram, there are 81 streets under the Peelamedu SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 5,750 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Balaji Nagar's 2024 figure above this median.

• Ayyavannan Lane: Rs 1,000 per sq.ft (2024)
• Bharathi Nagar (1 to 6): Rs 1,700 per sq.ft (2024)
• Athumedu: Rs 1,000 per sq.ft (2024)
• Aspire: Rs 4,190 per sq.ft (2024)
• Arunachalam Colony: Rs 1,700 per sq.ft (2024)
• Arumuga Nadar Street: Rs 1,700 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Ramanathapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, making it important to understand these figures before proceeding with a sale.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 136 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1,518%.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Special Type - II under the Peelamedu SRO.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Balaji Nagar located?

The Peelamedu Sub Registrar Office is located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone.